• Forecast
  • News Tip
  • Categories
Temperature Precipitation
Estimated read time
53s

This year’s PFD checks could double the 2013 amount

By KTVA CBS 11 News 6:27 PM July 30, 2014
ANCHORAGE –

Your 2014 Permanent Fund Dividend check might be significantly larger than last year’s.

Every year, the Alaska Permanent Fund Corporation (AFPC) sends a check to the Alaska Department of Revenue, who then uses that check to fund the checks that are distributed to qualifying Alaskans who remembered to apply, said AFPC Director Mike Burns. The AFPC’s check amount should be on public record sometime next week.

The final PFD amount depends on how many people applied and any fluctuations in state budget needs the fund also supports, but it could be double 2013′s $900, Burns said. The probable hike is largely due to 2009′s amount being dropped from the five-year average that’s used to calculate the annual amount, Burns said. There was a 37 percent dip in the dividend amount from 2008 to 2009, a time when much of the country was experiencing recession pains.

The state generally announces the official amount in September.

Alaska began distributing PFD checks to Alaskans in 1982. Investment profits from the state’s oil-wealth savings account supply the fund.

Latest Stories