Mark Your Calendar: 1704 Stimulus Payments Set to Arrive—Find Out the Date
According to Marca, Alaskans are set to receive $1,704 as part of the state’s initiative to share profits from natural resource sales with qualifying residents through the Permanent Fund Dividend (PFD). If you’re wondering when you’ll receive your payment, read on for important details.
Breakdown of the Payment
The $1,704 payment includes a one-time energy relief payment authorized by the state’s Department of Revenue. This additional support aims to help residents cope with the cold of fall and winter amidst the ongoing global cost of living crisis.
Alaska has been significantly affected by these challenges due to its isolation and frigid temperatures, which lead to higher energy demands and increased costs for transporting and importing goods. With a population of only 800,000 residents, the state has limited market competition, resulting in higher prices for goods, making it the fourth-most expensive state to live in.
Eligibility Requirements
All Alaskans who lived in the state during the 2023 calendar year and did not leave for an extended period (except for military service or educational needs) are eligible for the benefit. However, specific conditions apply to the PFD:
- Felons and Misdemeanor Convictions: Individuals convicted of a felony during their incarceration or sentencing in 2023 are ineligible. Additionally, a misdemeanor conviction in Alaska may disqualify someone if they have a prior felony conviction or two or more prior misdemeanors since January 1, 1997.
Also read: Social Security COLA 2025: Average Payments of $1,580—Which Recipients Are Eligible?
Payment Schedule
Payments began distribution via direct deposit on October 3. All paper checks will be distributed before the end of the month, specifically by Thursday, October 31, coinciding with Halloween. The next payment date is set for Thursday, October 24.
Understanding the Payment Composition
The energy relief bonus constitutes $298.17 of the total $1,704, meaning the PFD itself amounts to $1,405.83 of the overall payment. This financial assistance is crucial for Alaskans facing the challenges of high living costs during the colder months.
