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The Alaska Permanent Fund Dividend (PFD) is a yearly payment that ensures Alaskans directly benefit from the state’s natural resource revenues, particularly from oil and gas. Created in 1976, the PFD channels profits from these resources to residents, offsetting the rising cost of living and supporting families during Alaska’s challenging winter months.

With over 600,000 residents eligible, the 2024 PFD payment is increasing to $1,702, providing a significant boost to household budgets. If you’re eligible or considering applying, here’s what you need to know.

PFD

The PFD distributes a portion of Alaska’s oil and gas revenue to its residents. It was established as part of the Alaska Permanent Fund, which is managed by the Alaska Permanent Fund Corporation. The goal is to ensure the state’s natural resource wealth is shared equitably among residents.

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In 2024, eligible Alaskans will receive a payment of $1,702, up from $1,312, reflecting the state’s ongoing efforts to help residents cope with inflation and high living costs.

Eligibility Requirements

To qualify for the Alaska PFD, residents must meet several criteria:

1. Residency Requirements:
   • Be a registered Alaska resident.
   • Have lived in the state for at least 12 months.
   • Intend to remain in Alaska indefinitely.
2. Time Spent in Alaska:
   • Have spent a minimum of 72 continuous hours in the state within the last 24 months.
3. Criminal Record:
   • Must not have been imprisoned for a felony in the past year.
   • For those with a prior felony or two misdemeanors since January 1, 1997, a misdemeanor conviction in the past year disqualifies them.

How to Apply

The application process for the PFD is straightforward, and it’s important to submit your application on time.

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Timeline

• Applications are open annually from January 1 to March 31.
• Submissions can be made online or by mail.

Steps

1. Register for Each Family Member: Submit separate applications for every eligible family member.
2. Provide Proof of Residency: Ensure you have documents verifying your Alaska residency.
3. Meet the Deadline: Submit all required forms before March 31 to avoid missing out.

Applications in “Eligible-Not Paid” status by December 11, 2024, will be processed and paid on December 19, 2024. If the status is updated after this date but before January 8, 2025, payments will be issued on January 16, 2025.

Payments

The PFD payment aims to support residents by boosting household spending and encouraging investment. Here’s a breakdown of recent payment increases:

With the rising payment amounts, families can expect greater financial support, helping offset the challenges of Alaska’s cost of living.

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Why It Matters

The PFD is more than just a stimulus check—it’s a way for Alaskans to share in the wealth generated by the state’s abundant natural resources. These payments have a ripple effect, boosting the local economy and supporting families in meeting everyday expenses during the tough winter months.

If you’re eligible for the PFD, don’t miss out. Apply on time, ensure all requirements are met, and enjoy the benefits of living in one of the most resource-rich states in the U.S.

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