Whoops! State Shaves $8 Off The PFD Check

Governor Mike Dunleavy has announced the Permanent Fund Dividend Division will begin distribution of the 2020 Permanent Fund Dividends ...

Governor Mike Dunleavy has announced the Permanent Fund Dividend Division will begin distribution of the 2020 Permanent Fund Dividends (PFDs) to eligible Alaskans on July 1, 2020.

The checks usually go out in October. This year, the PFD check was planned to be $1,000 – the same amount as in 1982, the first year of the fund. The lowest PFD amount was in 1984, two years later, when the check was only $331.29. The highest amount was in 2008, the year of the stock market collapse, when Alaskans got $2,069 plus a $1,200 "Alaska Resource Rebate."

But on June 12th, 2020, the state announced, with little comment, that they had taken the amount down $8 apiece -- to $992 per applicant.

The total number of Alaskans who signed up and will be receiving a check comes to about 580,000 individuals.

Regarding the 2020 decision to give the money out early, “This has been a difficult situation for everyone – individual Alaskans have been hurt economically, businesses have been hurt economically. We’re going to do all we can to get that going in the right direction,” said Governor Dunleavy.

“As a result, we’re going to move up the date for the PFD for Alaskans to July 1st. Usually that goes out in October, but we’re in extraordinary times and we need to make sure the people of Alaska have cash in their hands to help with this economy. I can’t think of a better time to do it than now. We’re starting the process right now so come July 1st, we’re going to be sending out the Permanent Fund checks to all Alaskans that qualify and are eligible.”

As of May 20, 2020, the Permanent Fund Dividend Division has received 671,364 PFD applications and 85 percent of applicants’ eligibility has been determined. The Division estimates nearly 600,000 Alaskans will receive payment on July 1st.

Because not all applicants will be determined by June 19, 2020, Alaskans may receive payments July 23rd, August 20th, or subsequent months thereafter. The division pays dividends monthly until all eligible Alaskans are paid.
(From a press release sent by the Governor's office, May 20, 2020)


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