Permanent Fund

Rep. David Eastman, R-Wasilla, watches as the tally board in the Alaska House of Representatives shows the vote against House Joint Resolution 7 on Thursday. Eastman supported the amendment. (James Brooks/Alaska Beacon)

Alaska House votes down constitutional guarantee for Permanent Fund dividend

Guarantee had been discussed as part of long-term plan to bring state expenses in line with revenue.

 

Uhtred Permanentfundsen, the “defender of the Permanent Fund,” occupies a shelf near the head of the table in the Senate Finance Committee room at the Alaska State Capitol. (Mark Sabbatini / Juneau Empire file photo)

Sunday is the last day to apply for the 2024 Alaska Permanent Fund Dividend

Online applications can be submitted until 11:59 p.m.; PFD expected to be at least $1,582.

 

The Alaska Permanent Fund Corp. headquarters in Juneau is where most of the estimated 70 employees manage the state’s primary savings account. The corporation opened a satellite office in Anchorage last year. (Mark Sabbatini / Juneau Empire file photo)

Intent language nixing Permanent Fund Corp.’s new Anchorage office added to House budget

Office opened last year without earmarked funds; APFC head says HQ could eventually move from Juneau

 

The Alaska State Capitol is seen on Wednesday, March 7. (James Brooks/Alaska Beacon)

Experts bump Alaska oil price estimates slightly, boosting Permanent Fund dividend and budget

Extra payment of more than $200 expected for this year’s PFD.

The Alaska State Capitol is seen on Wednesday, March 7. (James Brooks/Alaska Beacon)
Rep. Ben Carpenter, R-Nikiski, speaks Thursday, April 27, 2023, at a news conference in Juneau. (James Brooks/Alaska Beacon)

Alaska House considers constitutional guarantee for Permanent Fund dividend

The Alaska House of Representatives will vote as soon as Friday morning on a constitutional amendment that would guarantee the annual Permanent Fund dividend. The… Continue reading

Rep. Ben Carpenter, R-Nikiski, speaks Thursday, April 27, 2023, at a news conference in Juneau. (James Brooks/Alaska Beacon)
Alexei Painter, director of Alaska’s Legislative Finance Division, presents an update of the state’s budget situation for the coming year to the Senate Finance Committee on Thursday. (Mark Sabbatini / Juneau Empire)

Analysis: Balanced state budget next year can include a $1,535 PFD and $680 BSA increase

However, a “statutory” $3,688 PFD would result in a deficit of more than $1.2 billion, report says.

Alexei Painter, director of Alaska’s Legislative Finance Division, presents an update of the state’s budget situation for the coming year to the Senate Finance Committee on Thursday. (Mark Sabbatini / Juneau Empire)
The trustees of the Alaska Permanent Fund Corp. are seen during a quarterly meeting at their Juneau headquarters on Friday. (Photo by James Brooks/Alaska Beacon)

Alaska Permanent Fund Corp. board again warns that the fund is running out of spendable money

New analysis offers possible solutions; two-part constitutional amendment the most durable repair.

The trustees of the Alaska Permanent Fund Corp. are seen during a quarterly meeting at their Juneau headquarters on Friday. (Photo by James Brooks/Alaska Beacon)
Deven Mitchell, executive director of the Alaska Permanent Fund Corp., gives a tour of the corporation’s investment floor to Sen. Jesse Kiehl, D-Juneau, and other attendees of an open house on Friday. (James Brooks/Alaska Beacon)

Alaska Permanent Fund Corp. leaders approve proposal to borrow up to $4 billion for investments

Plan must be OK’d by legislators and Gov. Mike Dunleavy because it requires changes to state law.

Deven Mitchell, executive director of the Alaska Permanent Fund Corp., gives a tour of the corporation’s investment floor to Sen. Jesse Kiehl, D-Juneau, and other attendees of an open house on Friday. (James Brooks/Alaska Beacon)
Alaska Permanent Fund Corp. board members, staff and advisors meet Monday, Oct. 30, 2023, at the corporation’s headquarters in Juneau. (Mark Sabbatini / Juneau Empire file photo)

Opinion: Risky business not the state’s business

The advice for Las Vegas gamblers is don’t bet more than you can afford to lose. It’s generally the same advice for investors: Don’t take… Continue reading

Alaska Permanent Fund Corp. board members, staff and advisors meet Monday, Oct. 30, 2023, at the corporation’s headquarters in Juneau. (Mark Sabbatini / Juneau Empire file photo)
Deven Mitchell is the executive director and chief executive officer of the Alaska Permanent Fund Corp. (Photo courtesy of the Alaska Permanent Fund Corp.)

My Turn: APFC remains focused on continuing legacy for generations of Alaskans

The Alaska Permanent Fund Corp. is honored to have its headquarters in Juneau. Since the corporation’s establishment in 1980, our objective has been to manage… Continue reading

Deven Mitchell is the executive director and chief executive officer of the Alaska Permanent Fund Corp. (Photo courtesy of the Alaska Permanent Fund Corp.)
Legislative fiscal analysts Alexei Painter, right, and Conor Bell explain the state’s financial outlook during a presentation to the Senate Finance Committee on March 24, 2023. (Mark Sabbatini / Juneau Empire)

Report: $175 ‘energy relief’ payment to residents, education funding boost likely in final state budget

Legislative Finance analysis of governor’s proposal for next year predicts numerous other adjustments

Legislative fiscal analysts Alexei Painter, right, and Conor Bell explain the state’s financial outlook during a presentation to the Senate Finance Committee on March 24, 2023. (Mark Sabbatini / Juneau Empire)
Alaska Permanent Fund Corp. board members, staff and advisors meet Monday at the corporation’s headquarters in Juneau to discuss a proposal to raise the fund’s rate of return by making riskier investments. The idea stalled when advisors suggested the strategy and timing are ill-advised. (Mark Sabbatini / Juneau Empire).

Permanent Fund board rebuffs higher-risk investment strategy

Advocates hoped to speed up fund reaching $100B, but advisors call timing and strategy unwise.

Alaska Permanent Fund Corp. board members, staff and advisors meet Monday at the corporation’s headquarters in Juneau to discuss a proposal to raise the fund’s rate of return by making riskier investments. The idea stalled when advisors suggested the strategy and timing are ill-advised. (Mark Sabbatini / Juneau Empire).
The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022 in Juneau. (Photo by James Brooks/Alaska Beacon)

Alaska Permanent Fund leaders may recommend constitutional amendment to fix fiscal problem

Correction: The quote “Inflation is like a thief in the night” was misattributed in the original version of the article. Elmer Rasmuson said it, not… Continue reading

The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022 in Juneau. (Photo by James Brooks/Alaska Beacon)
Evan Wood (left), Yvette Fountain (middle) and Nasir Spears wait outside the Alaska Department of Revenue office in the State Office Building on Thursday morning to discuss issues related to their Permanent Fund dividends. A majority of state residents got $1,312 dividends electronically deposited Thursday — or a day or two earlier — a considerably lower dividend than the $3,284 payout last year. (Mark Sabbatini / Juneau Empire)

A majority of Alaskans are $1,312 richer as of Thursday — some wish it were more

This year’s PFD is much lower than last year’s — the price of a balanced state budget.

Evan Wood (left), Yvette Fountain (middle) and Nasir Spears wait outside the Alaska Department of Revenue office in the State Office Building on Thursday morning to discuss issues related to their Permanent Fund dividends. A majority of state residents got $1,312 dividends electronically deposited Thursday — or a day or two earlier — a considerably lower dividend than the $3,284 payout last year. (Mark Sabbatini / Juneau Empire)
The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022, in Juneau. (Photo by James Brooks/Alaska Beacon)

Alaska Permanent Fund leaders discuss exemption from open-government law

Trustees considering ideas, including amending state Constitution, in hope of boosting fund’s value.

The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022, in Juneau. (Photo by James Brooks/Alaska Beacon)
The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022 in Juneau. (Photo by James Brooks/Alaska Beacon)

Alaska Permanent Fund improves after money-losing year but withdrawals still exceed earnings

Earnings need to average 5% plus inflation to be sustainable; hasn’t happened past five years.

The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022 in Juneau. (Photo by James Brooks/Alaska Beacon)
Cars drive past the Alaska Permanent Fund Corp. building in Juneau on Thursday. This year’s Permanent Fund dividend will be $1,312, the state Department of Revenue announced. (Clarise Larson / Juneau Empire)

This year’s official Permanent Fund dividend: $1,312

Distribution of payments will begin Oct. 5.

Cars drive past the Alaska Permanent Fund Corp. building in Juneau on Thursday. This year’s Permanent Fund dividend will be $1,312, the state Department of Revenue announced. (Clarise Larson / Juneau Empire)
(Mark Sabbatini / Juneau Empire File)

Opinion: Permanent Fund office in Anchorage means Alaska-based opportunities for professional talent

The Alaska Permanent Fund Corp.’s vision is to deliver outstanding returns for the benefit of all current and future generations of Alaskans. Accomplishing this vision… Continue reading

(Mark Sabbatini / Juneau Empire File)
The offices of the Alaska Permanent Fund Corp. are seen June 6 in Juneau. (Photo by James Brooks/Alaska Beacon)

New estimate shows Alaska’s Permanent Fund could be out of spendable money in 3-4 years

Annual transfer from the fund pays for more than half of Alaska’s general-purpose government spending

The offices of the Alaska Permanent Fund Corp. are seen June 6 in Juneau. (Photo by James Brooks/Alaska Beacon)
The Alaska Permanent Fund Corp. building in Juneau, seen here Sept. 28, 2022, is where most the corporation’s estimated 70 employees work. APFC leaders are considering options to move some operations and staff to Anchorage during the next year. (Mark Sabbatini / Juneau Empire File)

My Turn: Capital creep — a way to weaken state government

I just read that the Permanent Fund Corp. has been considering a move to Anchorage since 2019. I was stunned. An essential part of the… Continue reading

The Alaska Permanent Fund Corp. building in Juneau, seen here Sept. 28, 2022, is where most the corporation’s estimated 70 employees work. APFC leaders are considering options to move some operations and staff to Anchorage during the next year. (Mark Sabbatini / Juneau Empire File)