Even if you’ve already received your stimulus check, don’t stop keeping an eye out for more payments. These could come in various forms like benefits, Guaranteed Income Programs, or in states like Alaska, through the Permanent Fund Dividend (PFD) checks. These payments offer financial relief to individuals and families, helping them handle the rising costs of living.
Payments for 2024
Alaska’s Department of Revenue, through the Permanent Fund Dividend division, has announced the payment schedule and amounts for eligible Alaskans. For some, the money has already arrived, but others still need to wait a little longer.
The first round of payments went out on October 3, 2024, but another payout is set for October 24, 2024. If you’re in Alaska and haven’t received your PFD payment yet, don’t worry. You’re likely part of the second group, with just 16 days left as of October 8 until you get your money.
Larger PFD Payments
This year’s PFD amount has increased, giving recipients more than they received last year. The PFD check for 2024 is worth $1,702, which is a significant rise from 2023’s $1,312. That’s an extra $390, a considerable increase that will provide many Alaskans with added financial support.
Let’s break down the comparison:
| Year | PFD Amount | Increase |
|---|---|---|
| 2023 | $1,312 | N/A |
| 2024 | $1,702 | $390 |
This bump in PFD payments reflects Alaska’s aim to share its oil revenue with residents, offering a boost in uncertain economic times.
Payment Eligibility
To be eligible for the October 24, 2024 payment, you must meet the following criteria:
- Paper Applications: You filed your PFD application using paper forms.
- Payment by Check: You opted to receive your payment by paper check instead of direct deposit.
- Eligible-Not Paid Status: As of October 14, your status must show “Eligible-Not Paid.”
2025 Payments
Missed out on the 2024 PFD? You’ll get another chance in 2025. The application process for the next round of PFD payments opens on January 1, 2025. If you haven’t applied yet, mark your calendar for the new year.
Eligibility Requirements
The eligibility criteria for the 2025 PFD are similar to previous years. To qualify for the 2025 payment, here’s what you need:
- Alaska Residency: You must have lived in Alaska for the entire 2024 calendar year.
- Plan to Stay in Alaska: You need to show that you intend to remain in Alaska.
- No Other Residency Applications: You must not have applied for residency in another state.
- Limited Time Away: You must not have been absent from Alaska for extended periods that exceed the state’s limit.
- No Incarceration: You cannot have been jailed during the year.
- Physical Presence: You must have been physically present in Alaska for at least 72 consecutive hours in 2023 or 2024.
These rules ensure that the PFD benefits only those who are committed to living and contributing to the state.
For Alaskans, the 2024 PFD provides a much-needed financial boost, especially given the increase in the payment amount. With another round of checks coming on October 24, those who haven’t received their payment yet should be on the lookout. If you didn’t apply for the 2024 PFD, you have another chance to apply in 2025, with applications opening on January 1. As other states consider their own programs, Alaska continues to set an example of how to share economic benefits with residents.
FAQs
How much is the 2024 PFD payment?
It’s $1,702, a $390 increase from 2023.
When is the next PFD payment in Alaska?
The next payout is scheduled for October 24, 2024.
Who qualifies for the October 24, 2024 payment?
Applicants who filed by paper, chose paper checks, and have “Eligible-Not Paid” status.
Can I apply for the 2025 PFD if I missed this year?
Yes, applications open on January 1, 2025.
What’s the minimum time I need to spend in Alaska to qualify?
You need to be physically present for at least 72 consecutive hours in 2023 or 2024.
