The Alaska Permanent Fund Dividend (PFD) is one of the most unique and iconic programs in the United States. It was created in 1976, not long after large oil reserves were found on Alaska’s North Slope. This fund is a new way to use the state’s natural wealth to send money in a shape of stimulus checks.
Instead of spending all the money from oil royalties right away, voters in Alaska approved a change to the state constitution. This change says that at least 25% of the money from oil royalties should be saved in a permanent investment fund.
Alaska Permanent Fund Dividend (PFD) Payment
The idea was suggested by Governor Jay Hammond. He wanted to “save for future generations“. This fund would serve current residents and future ones. The fund invests in a mix of stocks, bonds, real estate, and private equity. It is managed by the Alaska Permanent Fund Corporation (APFC).
The fund is worth more than $80 billion today. A part of its earnings is given directly to residents each year. This idea has been praised in many places as a way to show that people can have a say in how they share in natural resources. This sharing helps avoid dependence on income taxes.
How the PFD works is pretty simple but made to make sure things are fair and long-lasting. The amount for the dividend was once based on a set formula: 21% of the fund’s average net income for the last five years, divided by two (for state expenses), less administrative costs, and divided among the number of people who should get one.
A legislative change for the PFD stimulus checks
After a 2017 case in the Alaska Supreme Court ruled that payments need to have the legislature’s approval and can be vetoed by the governor, things changed. Now, the legislature decides the amount each year through budget bills. They try to balance the need for money in the fund and the need for money to pay for schools, health, and other areas. The first year was 1982.
The original payment was $1,000 per person. The payments have changed with how the market and mineral revenues are doing. The 2025 total is $1,702 for each person who should get one. This includes $1,403.83 for a base dividend and $298.17 for an energy relief bond. This bond offsets the high heating and electric costs of the state.
Who can claim the PFD stimulus check?
There are times in the year when the program adjusts to the climate and the cost of fuel. To get a PFD stimulus program in 2025, an individual had to have been an Alaskan in the previous year (2024). They had to plan to stay in the state forever on the day they applied.
They cannot claim residency or benefits in other states or countries. They need to be in Alaska for 72 hours in a row in 2023 or 2024.
Absences due to work, school, or military service are okay as long as they do not exceed 180 days a year. Any stay over 180 days could affect an individual’s application.
If they were in jail in 2024 for a felony, or if they were in jail for a misdemeanor if they were convicted of one since 1997, they do not qualify. U.S. citizens, lawful permanent residents (whose green cards are valid), and children (if they are under 18, they claim under their parents or guardians) may apply for a PFD. Applications are made every year and can be made between January and March with the online myPFD or with a paper application.
What’s the cost to apply for these stimulus checks program
There is no fee to apply for a PFD. In 2025, the application deadline was March 31. The Alaska Department of Revenue makes 600,000 claims each year. Payments are paid in groups on different days.
The first batch for those who used direct deposits is set for October 2, 2025. The last batch was in October for those who used paper checks or had their claims approved after October 13, 2025.
Payments continue in each month after that, even for those with cases pending. You can check the status of your payment on the website at any time. If you do not receive your payment, you can claim it four years later.
By this time of the year, there is no additional time to apply, since the open application period is from January 1st, through March 31. If you didn’t apply by then, you’re eligible this year.
