The Permanent Fund Dividend, or PFD, is an annual payment to eligible Alaska permanent residents, funded by the earnings of the Alaska Permanent Fund, established in 1976. This fund invests surplus oil revenues. To qualify, residents must have lived in the state for the entire preceding year.
Unlike federal programs like the CARES Act checks, the PFD program is exclusive to Alaska. Its amount varies based on investment performance and legislative agreements. In 2024, the payment included an additional component for energy costs.
PFD stimulus check payments from recent years
Alaska’s state budget, which includes a $1,000 PFD for 2025, was approved by the legislature on May 20, 2025. According to the constitution, Governor Mike Dunleavy has until June 4 to sign or veto the proposal. Failure to act automatically entails the amount.
The legislative session closed a day ahead of schedule, according to the Alaska Beacon. The $1,000 PFD was billed as part of a “maintenance-level” budget, reflecting conservative fiscal priorities. No additional special sessions are anticipated in 2025.
In 2024, the PFD reached $1,702, including $298.17 in energy relief, according to the Alaska Department of Revenue. In 2023, the payment was $1,312, reflecting annual fluctuations linked to the Permanent Fund’s performance and legislative decisions.
Payments of $3,900 were proposed: Why was it reduced to $1,000?
Governor Mike Dunleavy initially proposed a $3,900 PFD, based on a formula unused for a decade. However, this amount would generate a $450 million deficit, according to Forbes. The proposal faced legislative resistance due to its fiscal impact.
The Senate Finance Committee suggested reducing the dividend to $1,000 on May 2, 2025, citing a budget deficit. The House had approved $1,400, but negotiations prioritized the lower figure, according to Alaska’s News Source.
The $1,000 amount represents the lowest PFD in five years, adjusted for inflation. Lawmakers emphasized the need to balance state obligations and citizen demands. The final agreement was finalized hours before the close of the session.
The comparison table shows changes over the years, based on the oil sales made by the State of Alaska, and the revenues retained by law for permanent residents:
- 2023: $1,312 (without energy relief).
- 2024: $1,702 (including energy component).
- 2025: $1,000 (pending final approval).
As of May 21, 2025, there is no confirmation that Mike Dunleavy has signed or vetoed the budget. According to the Constitution, he has 15 business days to decide. If he doesn’t act, the $1,000 PFD will automatically become law on June 4.
The payment date hasn’t been set yet, but we can use the 2024 payment as a reference: That year’s PFD payment was issued on Thursday, October 3, 2024, for residents who applied electronically and chose direct deposit, provided their application was approved by September 21, 2024. Physical check payments will begin being mailed the week of October 24, 2024, depending on the Alaska Department of Revenue’s schedule.