PFDs

Thursday PFDs began direct depositing into accounts of Alaskan residents.  You are probably asking yourself "What the heck are PFDs?"  Well, you may have heard people say things like "They pay you to live in Alaska."  While that's not really accurate, PFDs are the source of that common misconception.  When Alaska discovered oil, they came into a nice chunk of change and the problem of what to do with it.  The state decided to use part of the funds for state improvement projects like roads and decided to set aside a portion of the proceeds to invest.  The Permanent Fund was created to manage that process.  They began investing in various things (stocks, real estate, etc) and actually invested so well that there have been years the state has generated more income from the Permanent Fund than from oil production.  By 1980, they had done well enough to decide to give some of the proceeds from those investments back to Alaska's residents.  Thus begun a tradition that is probably bigger than Black Friday.


Every October, Alaskan residents receive their PFDs and have to decide what to do with that extra money.  Dividends typically range between $1000 and $2000 per resident, and children count.  So if you are a married couple with four kiddos, you are looking at getting somewhere between $8000 and $12,000.  We will not qualify for permanent funds for another two years.  You have to be a resident for a full calendar year, beginning January 1st, before you can apply the following year.  If you move here January 2nd, you gotta wait.  You also cannot receive dividends if you were incarcerated during the year either.  I guess the state can't be sure you would have remained a resident had you had a say in where you lived.


Since the dividends bring a large sum of money to Alaskan families the same time every year, there are PFD sales and promotions everywhere!  I would venture to say these PFD sales generate more income for Alaskan businesses than Black Friday sales.  The grocery stores are crazy busy, included the village grocery store.  (Have I mentioned lately how much I already dislike shopping?)  The village runway was busy all day Friday with people leaving the village to go shopping, mostly taking trips to Anchorage.  Attendance at school will probably be lower next week because those families will still be out taking care of their errands.  PFDs are such a big deal in Alaska, they are actually the number one issue in the gubernatorial election this fall.  Now, if I could just get voter registration to realize my polling place is in the wrong fly-in village and that fly-in village is around  250 miles away from mine as the crow flies, I might be able to get to vote in that election.

One of many magazines and fliers advertising
PFD sales.  Totally bigger than Black Friday!