Alaska Permanent Fund

 

Alaska oil pipeline

If you still think living in Alaska isn't cool enough...think about the fact that Alaskans have no state income tax  , no sales tax  , and... we get paid to live here! Well, kind of. They don't pay us to live here, per se. But a perk of living here is the annual PFD payout.

In 1976, the Alaska Permanent Fund was created as a means of setting aside a percentage of revenues from oil, minerals and other natural resources in investment accounts for the benefit of all Alaskans. From this fund, a dividend is paid each year to every qualifying Alaskan, based on the income of the fund. This Permanent Fund Dividend (PFD) is calculated by taking the net income of these investments from the last five fiscal years, multiplying that number by 21%, dividing by 2, subtracting prior year obligations, expenses and PFD program operations, then dividing by the number of qualifying Alaskans.

Originally, the fund had decided to pay $50 per year of residency to adult residents. That was ruled unconstitutional by the Supreme Court and the terms changed to paying an equal dividend amount for all residents of at least six months. Thereby, a family of four that contains 2 children would receive 4 PFDs, etc. The 6 month requirement was changed to 24 months in 1989, but after being challenged, was lowered to one calendar year, which is still the current requirement for length of residency.

For a person to be eligible for a PFD payment, they must meet certain specific criteria. Some of which are:

--they had to have lived in Alaska during the entire last calendar year of the calculation period (using the above example, that would mean all of 2007)

--they did not claim residency in any other state during that same year

--they intend to remain a resident of Alaska indefinitely

Other criteria can be found by visiting http://www.pfd.state.ak.us.

 

 

 

Historical PFD payments:

        2009 - $1,305.00        
  2008 - $3,269.00
*
2007 - $1,654.00
2006 - $1,106.96
2005 - $   845.76
2004 - $   919.84
2003 - $1,107.56
2002 - $1,540.76
2001 - $1,850.28
2000 - $1,963.86
1999 - $1,769.84
1998 - $1,540.88
1997 - $1,296.54
1996 - $1,130.68
1995 - $   990.30
1994 - $   983.90
1993 - $   949.46
1992 - $   915.84
1991 - $   931.34
1990 - $   952.63
1989 - $   873.16
1988 - $   826.93
1987 - $   708.19
1986 - $   556.26
1985 - $   404.00
1984 - $   331.29
1983 - $   386.15
1982 - $1,000.00

*2008 amount includes the $1,200 Alaska Resource Rebate

 

 

For complete Permanent Fund information, visit  http://www.pfd.state.ak.us

Information contained on this page is subject to change. For current information regarding

the Alaska Permanent Fund, visit the above website .

 

Copyright 2006-2010