A new $1,000 stimulus payment is on the way for around 600,000 people in Alaska. This isn’t a federal check like the ones from the CARES Act, but a yearly payment called the Permanent Fund Dividend (PFD). It’s given to people who live in Alaska full-time and is funded by the state’s oil earnings.
The 2025 PFD has been approved in Alaska’s budget, and unless the Governor stops it, this $1,000 payment will become official soon. Here’s everything you should know about it.
What Is the Permanent Fund Dividend (PFD)?
The PFD is a yearly payment given to permanent residents of Alaska. The money comes from a special fund created in 1976 that invests profits from oil production. People who have lived in Alaska for the full past year are eligible.
The amount changes each year depending on oil prices and how well the investments do. In 2024, the PFD included extra money to help with energy bills.
2025 PFD: Budget Approval and Next Steps
On May 20, 2025, Alaska’s lawmakers approved a budget that includes a $1,000 PFD. Governor Mike Dunleavy has until June 4 to either sign it or reject it. If he doesn’t take any action, the payment becomes law automatically.
This year’s payment is part of a basic or “maintenance-level” budget. It shows that Alaska is being careful with money and trying to avoid extra spending. Lawmakers say they don’t plan to have any special meetings to change this decision later in the year.
PFD Payments in the Past Few Years
In 2023, the PFD was $1,312.
In 2024, it increased to $1,702 because of a $298.17 energy relief addition.
In 2025, it is set to be just $1,000 – the lowest in five years, once adjusted for inflation.
The payment amounts change every year based on how much money the fund earns from oil and how lawmakers choose to use that money.
Why the Original $3,900 Plan Was Cut Down to $1,000
Governor Dunleavy originally suggested a much bigger PFD of $3,900, using a formula that hasn’t been followed in years. But that large amount would have caused a $450 million budget shortfall, making it hard for the state to manage its other expenses.
In May 2025, the Senate Finance Committee lowered the proposal to $1,000. The Alaska House had wanted $1,400, but in the end, both sides agreed on the lower amount to avoid debt.
When Will Alaskans Get Paid?
There’s no exact date for the 2025 payment yet. But if we look at 2024 as an example, most payments were made on Thursday, October 3, 2024, for people who applied online and chose direct deposit. Those who wanted physical checks got them later, starting the week of October 24, 2024.
So, if things go the same way this year, we can expect a similar timeline around early to mid-October.
What Happens Next?
As of May 21, 2025, Governor Dunleavy hasn’t signed or rejected the budget. But by law, if he doesn’t act by June 4, the $1,000 PFD will automatically be approved. This gives peace of mind to many Alaskans who are counting on the money.
The Alaska Department of Revenue will then decide the exact payment dates and how the checks or deposits will be sent out.
The 2025 PFD might be smaller than past years, but it still offers meaningful support to Alaskans. With rising costs of living and energy, even $1,000 can go a long way for many families. While it’s not the large payment some hoped for, the final decision reflects a careful balance between helping people and managing the state’s budget.
