The Permanent Fund Dividend (PFD) is a yearly cash payment given to eligible residents of Alaska. This money comes from the earnings of the Alaska Permanent Fund, which was created in 1976 to invest the state’s oil revenue. If you’ve lived in Alaska for the whole of the previous year, you can apply for this benefit.
What is the Alaska PFD?
The Alaska PFD is different from federal programs like stimulus checks or tax refunds. It is a state-run program meant only for people living in Alaska. The amount you get depends on how well the fund’s investments do and what the state lawmakers agree on each year.
In 2024, the payment included a special energy relief amount, due to rising fuel costs. In 2025, the budget includes a proposed PFD payment of $1,000 per eligible resident, though final approval is still pending.
PFD Payment History: 2023 to 2025
The amount of the PFD changes every year. In 2023, the payment was $1,312. In 2024, it increased to $1,702, which included an energy relief bonus of $298.17.
For 2025, the proposed PFD is just $1,000. This would be the smallest PFD in five years, especially when adjusted for inflation.
The final budget with this amount was approved by the Alaska legislature on May 20, 2025. Governor Mike Dunleavy now has until June 4, 2025, to either sign it into law or reject it. If he does nothing, the payment will automatically go into effect.
Why Was the Payment Reduced from $3,900 to $1,000?
Earlier this year, Governor Dunleavy proposed a much bigger PFD of $3,900, using a formula that hasn’t been applied in over 10 years. But lawmakers rejected this plan, saying it would create a $450 million deficit for the state.
Instead, the Senate Finance Committee recommended lowering the payment to $1,000. The House of Representatives wanted $1,400, but in the end, they agreed to the smaller amount. This was done to avoid extra spending and keep the state budget balanced.
When Will Alaskans Get the 2025 PFD?
As of now, no official date has been announced for the 2025 payment. However, we can estimate it by looking at the 2024 schedule.
In 2024, payments were made on October 3 for those who applied online and chose direct deposit. Paper checks were mailed starting the week of October 24. So, it’s likely the 2025 PFD will follow a similar timeline, unless the state decides to make changes.
How to Qualify for the PFD
To get the PFD, you must have lived in Alaska for the entire previous year. You must also plan to stay in the state and meet certain legal conditions. Applications usually open in January and close at the end of March every year. If you qualify and apply on time, you’ll receive your payment in the fall.