Permanent Fund

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’s board of trustees has directed staff to evaluate options for moving some operations to Anchorage. (Mark Sabbatini / Juneau Empire)

Permanent Fund Corp. considers moving some operations to Anchorage

Opposition to latest “capital creep” voiced by Juneau lawmaker, who says no funds exists for the move.

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’s board of trustees has directed staff to evaluate options for moving some operations to Anchorage. (Mark Sabbatini / Juneau Empire)
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. The committee was responsible for adding to the state budget the formula being used to calculate this year’s Permanent Fund dividend, which is estimated to be $1,304. (Mark Sabbatini / Juneau Empire File)

This year’s PFD is a budget-balancing $1,304. Is this the new normal?

Dunleavy OKs lower dividend despite originally seeking a $3,800 “statutory” payout.

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. The committee was responsible for adding to the state budget the formula being used to calculate this year’s Permanent Fund dividend, which is estimated to be $1,304. (Mark Sabbatini / Juneau Empire File)
Legislative fiscal analysts Alexei Painter, right, and Conor Bell explain the state’s financial outlook during the next decade to the Senate Finance Committee on Friday. (Mark Sabbatini / Juneau Empire)

Legislators eye oil and sales taxes due to fiscal woes

Bills to collect more from North Slope producers, enact new sales taxes get hearings next week.

Legislative fiscal analysts Alexei Painter, right, and Conor Bell explain the state’s financial outlook during the next decade to the Senate Finance Committee on Friday. (Mark Sabbatini / Juneau Empire)
State Rep. Cliff Groh, D-Anchorage, testifies about his proposed constitutional amendment that would change how Permanent Fund earnings are allocated during a House Ways and Means Committee meeting Saturday morning at the Alaska State Capitol. The committee spent two hours taking testimony almost entirely by phone from residents statewide about five proposals related to the Permanent Fund and dividends, which continued the long historical pattern of strongly divided feelings about how much money to use for dividends vs. state government programs. (Mark Sabbatini / Juneau Empire)

PFD proposals polarize and puzzle

Residents all over Alaska’s map are also all over the policy map during hearing on various proposals

State Rep. Cliff Groh, D-Anchorage, testifies about his proposed constitutional amendment that would change how Permanent Fund earnings are allocated during a House Ways and Means Committee meeting Saturday morning at the Alaska State Capitol. The committee spent two hours taking testimony almost entirely by phone from residents statewide about five proposals related to the Permanent Fund and dividends, which continued the long historical pattern of strongly divided feelings about how much money to use for dividends vs. state government programs. (Mark Sabbatini / Juneau Empire)
A sign in 2019 urges Alaska lawmakers to fund a “full” Permanent Fund Dividend — or else. Some legislators this year are hoping tough times since then due to the COVID.19 pandemic and other events will make residents willing to accept proposals that result in lower dividends so some of the money can be used for purposes such as increasing education spending. (AP Photo/Mark Thiessen, file)

PFD plans poised for public pontificating

Five proposals to be subject of Saturday hearing.

A sign in 2019 urges Alaska lawmakers to fund a “full” Permanent Fund Dividend — or else. Some legislators this year are hoping tough times since then due to the COVID.19 pandemic and other events will make residents willing to accept proposals that result in lower dividends so some of the money can be used for purposes such as increasing education spending. (AP Photo/Mark Thiessen, file)
Melanie Hardin, right, greets the Alaska Permanent Fund Corp.’s Board of Trustees before her interview for the APFC’s executive director’s job Monday in Juneau, (Mark Sabbatini / Juneau Empire)

Permanent Fund board picks new executive director

Trustees work overtime selecting from three candidates after interviews Monday

Melanie Hardin, right, greets the Alaska Permanent Fund Corp.’s Board of Trustees before her interview for the APFC’s executive director’s job Monday in Juneau, (Mark Sabbatini / Juneau Empire)
A parking sign awaits the new executive director of the Alaska Permanent Fund at its Juneau headquarters, Three finalists will be interviewed for the job during a public meeting Monday by the fund’s board of trustees, who are expected to deliberate and announce the new director immediately afterward. (Mark Sabbatini / Juneau Empire)

Interviews, selection of new Permanent Fund CEO set for Monday

Three finalists seeking to manage $73.7B fund to appear before trustees at public meeting in Juneau

A parking sign awaits the new executive director of the Alaska Permanent Fund at its Juneau headquarters, Three finalists will be interviewed for the job during a public meeting Monday by the fund’s board of trustees, who are expected to deliberate and announce the new director immediately afterward. (Mark Sabbatini / Juneau Empire)
The Alaska Permanent Fund Corp. building in Juneau is scheduled to be the site where the board of trustees will select a new executive director on Monday, following the investigation into the firing of former CEO Angela Rodell last December being presented to state lawmakers on Wednesday. (Mark Sabbatini / Juneau Empire)

Investigators: Permanent Fund CEO’s firing legal but departed from policy

Trustees acted legally, despite not following official policy, and governor didn’t influence decision

The Alaska Permanent Fund Corp. building in Juneau is scheduled to be the site where the board of trustees will select a new executive director on Monday, following the investigation into the firing of former CEO Angela Rodell last December being presented to state lawmakers on Wednesday. (Mark Sabbatini / Juneau Empire)
For the first time in a decade, the Alaska Permanent Fund Corp., source of more than half of Alaska’s general-purpose state revenue, posted negative investment returns for an entire fiscal year. (Michael S. Lockett / Juneau Empire File)

Alaska Permanent Fund Corp posts negative returns for first time in a decade

The decline will not have an immediate negative effect on state finances

For the first time in a decade, the Alaska Permanent Fund Corp., source of more than half of Alaska’s general-purpose state revenue, posted negative investment returns for an entire fiscal year. (Michael S. Lockett / Juneau Empire File)
Rep. Zack Fields, D-Anchorage speaks during a rally urging the Alaska government, particularly the Permanent Fund Corp., to divest itself from any Russian investment. Legislation to require divestment did not pass the Legislature. The state still holds millions of dollars in Russian investments. (Peter Segall / Juneau Empire File)

State still holds millions in Russian investments

Llegislation that would have required the state to sell its Russia holdings did not pass.

Rep. Zack Fields, D-Anchorage speaks during a rally urging the Alaska government, particularly the Permanent Fund Corp., to divest itself from any Russian investment. Legislation to require divestment did not pass the Legislature. The state still holds millions of dollars in Russian investments. (Peter Segall / Juneau Empire File)
The offices of the Alaska Permanent Fund Corporation got some rate sun on Tuesday, March 1, 2022, as Alaska's lawmakers urged the corporation's Board of Directors to divest from Russian assets in response to the invasion of Ukraine. (Peter Segall / Juneau Empire)

Permanent Fund to hold Russian assets as lawmakers urge divestment

Many states are divesting.

The offices of the Alaska Permanent Fund Corporation got some rate sun on Tuesday, March 1, 2022, as Alaska's lawmakers urged the corporation's Board of Directors to divest from Russian assets in response to the invasion of Ukraine. (Peter Segall / Juneau Empire)
Senate Finance Committee members Sens. Bert Stedman, R-Sitka, and Natasha Von Imhof, R-Anchorage, listen to public testimony for bills related to the Permanent Fund Dividend on Monday, Feb. 21, 2022. The majority of callers accused lawmakers of stealing PFD money. (Peter Segall / Juneau Empire)

PFD formula proposals provoke strong public reaction

Familiar arguments.

Senate Finance Committee members Sens. Bert Stedman, R-Sitka, and Natasha Von Imhof, R-Anchorage, listen to public testimony for bills related to the Permanent Fund Dividend on Monday, Feb. 21, 2022. The majority of callers accused lawmakers of stealing PFD money. (Peter Segall / Juneau Empire)
Peter Segall / Juneau Empire File This photo shows the Alaska State Capitol. The Capitol will be the site of a committee hearing next month that will focus on the recent firing of Alaska Permanent Fund Corp. CEO Angela Rodell.

Committee seeks answers, documents related to Permanent Fund Corp CEO’s firing

Hearing scheduled for mid-January.

Peter Segall / Juneau Empire File This photo shows the Alaska State Capitol. The Capitol will be the site of a committee hearing next month that will focus on the recent firing of Alaska Permanent Fund Corp. CEO Angela Rodell.
The Alaska Permanent Fund saw record earnings this year and lawmakers are deeply divided about what to do with the earnings. (Peter Segall / Juneau Empire File)

Permanent fund earnings were record-breaking, but annual draws are average

Record earnings.

The Alaska Permanent Fund saw record earnings this year and lawmakers are deeply divided about what to do with the earnings. (Peter Segall / Juneau Empire File)
The Alaska Permanent Fund Corporation building in October 2020. (Peter Segall / Juneau Empire file)

Permanent Fund posts record earnings as lawmakers debate state deficit

Record earnings, lengthy debate.

The Alaska Permanent Fund Corporation building in October 2020. (Peter Segall / Juneau Empire file)
Alaska State Capitol

Lawmakers announce PFD working group

First meeting Wednesday.

Alaska State Capitol
Peter Segall / Juneau Empire Senate President Peter Micciche, R-Soldotna, looks on as Senators vote whether to adjourn the long-awaited budget vote on Tuesday, June 15, 2021. Budget talks were derailed Tuesday after lawmakers and the governor balked at the budget proposal.

Budget talks break down as shutdown looms

Legislative leadership met for most of the day Tuesday.

Peter Segall / Juneau Empire Senate President Peter Micciche, R-Soldotna, looks on as Senators vote whether to adjourn the long-awaited budget vote on Tuesday, June 15, 2021. Budget talks were derailed Tuesday after lawmakers and the governor balked at the budget proposal.
Rep. Neal Foster, D-Nome, at center, chairs the first meeting of a bicameral conference committee tasked with negotiating the state's final budget bill in the Senate Finance Committee chambers on Wednesday, May 26, 2021. Lawmakers had said they wanted to finish before Memorial Day, but Foster said that didn't seem like a possibility. (Peter Segall / Juneau Empire)

Budget negotiations begin, will likely continue into June

One day at a time.

Rep. Neal Foster, D-Nome, at center, chairs the first meeting of a bicameral conference committee tasked with negotiating the state's final budget bill in the Senate Finance Committee chambers on Wednesday, May 26, 2021. Lawmakers had said they wanted to finish before Memorial Day, but Foster said that didn't seem like a possibility. (Peter Segall / Juneau Empire)
Proclamations from Gov. Mike Dunleavy calling special sessions of the Alaska State Legislature for late May and early August were posted in the otherwise quiet office of the House Clerk on Friday, May 21, 2021. The first special session has started but the Capitol building was quiet as most of the work before lawmakers will take place in committee. (Peter Segall / Juneau Empire)

Special session begins, aims to solve Alaska’s fiscal deficit for good

Get ready in May for August.

Proclamations from Gov. Mike Dunleavy calling special sessions of the Alaska State Legislature for late May and early August were posted in the otherwise quiet office of the House Clerk on Friday, May 21, 2021. The first special session has started but the Capitol building was quiet as most of the work before lawmakers will take place in committee. (Peter Segall / Juneau Empire)
Gov. Mike Dunleavy made changes to a proposed constitutional amendment in a news conference at the Alaska State Capitol on Wednesday, May 12, 2021, he hopes will set the state on a better fiscal path. (Peter Segall / Juneau Empire)

Dunleavy makes changes to Permanent Fund proposal

Gov says proposal is first step to better fiscal future

Gov. Mike Dunleavy made changes to a proposed constitutional amendment in a news conference at the Alaska State Capitol on Wednesday, May 12, 2021, he hopes will set the state on a better fiscal path. (Peter Segall / Juneau Empire)