Alaska Permanent Fund
Categories: Econ, International, Company Management
Alaska is known for a few things: snow, salmon fishing, moose hunting, snow machines, Sarah Palin, and oil drilling. Only the last two are relevant here, and Palin only glancingly.
Let's break it down.
When they discovered oil in Alaska, the government made the oil companies contribute funds to a organization meant to benefit the people of the state. This became the Alaska Permanent Fund, originally founded in 1976, and managing funds of around $55 billion by 2016, according to Forbes magazine. Every year, the fund pays out a dividend to Alaskan residents. The amount depends on fund performance and the number of Alaskans there are.
But don't get excited that your state doesn't have a permanent fund paying out dividends. The Alaska Permanent Fund payouts aren't earth-shattering.
In the 21st century so far (as of 2018), amounts have varied between about $846 and just under $2,100 per year (except in 2008, when Governor Sarah Palin, who ran for U.S. Vice President that year, signed a bill that paid an additional $1,200 that year as a special one-time payout). Come for the free money; stay for the salmon.
