Permanent Fund Dividend.... Here I Come!!!

EVERYBODY is excited! It’s what everybody is talking about! HOW TO SPEND their UPCOMING PERMANENT FUND DIVIDEND CHECK! What do you plan to do with your $1281.00 check you will receive this October?  Some people are thinking about buying a new big flat screen TV or a new gadget, maybe even a vacation for the family.

In 1976, the State of Alaska voters pass a constitutional amendment to establish the Permanent Fund. The fund originates from surplus revenues gained from the development of Alaska's oil and gas reserves. It would invest at least 25% of proceeds from some mineral  (such as oil and gas) sales or royalties. The fund pays out an annual dividend to each Alaskan resident (must be a resident for at least 12 months) with the interest that it earns. The fund also invests in a wide variety of asset classes, including domestic stocks, US bonds, global bonds, real estate and private equity.

The PFD pay-out comes in or near October of each year. This year, the dividend is set for distribution on the 6^th of October 2011.  Here is a list of the annual individual pay-out in the past.

Year	Dividend Pay-out
2010	$1281.00
2009	$1305.00
2008	2069.5 + 1200 Alaska Resource Rebate
2007	1654.00
2006	1106.96
2005	845.76
2004	919.84
2003	845.76
2002	919.84
2001	1107.56

If you want to know the more about the dividend computation, you may click on http://www.pfd.state.ak.us/forms/2010Forms/2010DividendCalculation.pdf  for more details.

If you want to apply for a PFD, simply follow the steps below:

 -  Complete an online application at www.pfd.alaska.gov OR

 -  Complete a paper application AND an Adult Supplemental Schedule and submit them by March 1^st

-   Submit an original certified birth certificate, original passport, or naturalization papers. (photocopies or hospital certificates will not be accepted).

You can access your information at www.pfd.alaska.gov to check if you are eligible to receive an annual pay-out or dividend. It is important to check your current information, because sometimes eligibility changes.

Still unsure on how you will spend your PFD check? If you want to look further ahead and think about the future, combine a whole family’s dividends and you will be able to purchase something that will last longer  – like a down payment on a house in today’s market!!  Alaska Housing has first-homebuyer loans and if you add the dividends you will receive, you can buy a good home. And with low mortgage rates, buying your dream home is affordable than ever. If you want to take advantage of the current housing market, please don’t hesitate to contact me.