THOUSANDS of Americans are slated to automatically receive cash payments worth $1,702 in the coming days.
The annual, state-administered payments, from a permanent fund, function similarly to the federal stimulus checks from the pandemic in that they boost economic activity.
Eligible Americans are in line to receive payments worth $1,702 that function similarly to the stimulus checks distributed during the pandemic[/caption]
Although the pandemic-era stimulus checks are a thing of the past, select states across the US host programs in which they issue payments to financially support their residents.
For example, The Magnolia Mother’s Trust in Mississippi is the longest-running guaranteed income program in the US, offering $1,000 checks for 12 months to impoverished families.
Americans in California can also receive $1,000 monthly payments similar to stimulus checks as part of a guaranteed income program called the Abundant Birth Project.
Alaska likewise offers its residents annual checks that function like the federally-funded economic impact payments via its Permanent Fund Dividend, or PFD.
The Alaska Permanent Fund was established in 1976 to manage the state’s oil and natural resources and ensure that the wealth was shared among current and future residents.
A few years later, Alaska rolled out the PFD program to distribute a portion of the Permanent Fund’s earnings to eligible residents.
The amount of the dividend varies each year based on factors such as oil prices and the fund’s investment performance.
The 2024 PFD amount to be sent out this year is $1,702, which includes a regular dividend worth $1,440 and a one-time energy relief bonus worth $262 thanks to high oil prices.
This marks a 30% increase over the 2023 check worth $1,312.
According to the PFD website, dividend applications from 2024 and prior years in the “Eligible-Not Paid” status on July 9, 2025, will be sent out in the coming days on July 17, 2025.
Qualifying applications from 2024 and prior years that have yet to be paid on August 13, 2025, will be distributed on August 21, 2025.
The last day for residents to apply to receive a PFD check this year was March 31.
Applications for the 2026 payment will be open between January 1 and March 31 of next year.
ARE YOU ELIGIBLE?
Alaskans must meet certain criteria in order to qualify to receive the $1,702 checks.
Alaska PFD vs stimulus
The PFD payment is a bit different than the stimulus check Americans received during the pandemic.
PFD is made to residents of a specific region from the earnings of a permanent or sovereign wealth fund.
Alaska has a sovereign wealth fund called the Alaska Permanent Fund, established in 1976.
It is funded mainly through the revenue produced from Alaska’s oil and gas reserves.
Every year, part of the funds are distributed to Alaskan residents as dividends.
One of the requirements to receive the 2025 check is that they must have resided in the state throughout the full 2024 calendar year.
Applicants must also not have claimed residency in another state or country or received benefits tied to the claim since December 31, 2023.
Another requirement is that Alaskans must not have been convicted of a felony in the last 12 months or been incarcerated due to a felony or misdemeanor.
Additionally, PFD applicants generally must not have been absent from Alaska for over 180 days last year.
Around 600,000 Alaskans receive the dividend each year.
See if you qualify for these other payment opportunities.
Americans will get surprise automatic checks from a $45 million pot – but you must check your mail.
Plus, Americans are being urged to claim free money from a $5 billion pot – you must be aware of a strict 10-year rule.
