Permanent Fund

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)
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)