NANA Elders' Settlement Trust Announces 2014 Distribution

Anchorage, Alaska – Dec. 4, 2014 – The Trustees of the NANA Elders’ Settlement Trust voted to issue a $1,000 per Elder distribution for 2014.  The Trust was established by NANA in 2008 to provide a modest, yet needed, special distribution to NANA shareholders who are 65 years of age or older by Jan. 1, 2015.

The distribution is not taxable.

The NANA Elders’ Settlement Trust distribution will have a record date of Jan. 1, 2015 and a payment date of on or about Jan. 9, 2015.

 

NANA ELDERS SETTLEMENT TRUST FAQ

Q: WHAT IS THE AMOUNT OF THE NANA ELDERS SETTLEMENT TRUST THIS YEAR?

The Trustees of the NANA Elders’ Settlement Trust voted to issue a $1,000 per Elder distribution.

Q: WHEN WILL THE DISTRIBUTION HAPPEN?
The NANA Elders’ Settlement Trust distribution record date will be Jan. 1, 2015 with a payment date of on or about Jan. 9, 2015. Elders who have elected to receive their dividend via direct deposit will receive it that day. It should arrive within a week to ten days for those Elders who receive the distribution by mail.

Q. WHAT IS THE ELDERS’ SETTLEMENT TRUST?
The Trust was established by NANA in 2008 to provide a modest, yet needed, special distribution to NANA shareholders who are 65 years of age or older. It was established as a way to honor the Elders in alignment with the Iñupiat Iḷitqusiat Values.

Q. HOW DOES THE TRUST DECIDE HOW MUCH TO DISTRIBUTE?
NANA established the Elders’ Settlement Trust in 2008 to provide a modest, yet needed, special distribution to NANA shareholders who are 65 years of age or older. It is a separate entity from NANA, although NANA initially funded it and has funded past distributions. 

The NANA Elders’ Settlement Trust Agreement sets how much money the Trustees can distribute to Elders in a given year.  The Trust Agreement indicates that the money the Trust earns may be distributed to Elders, but does not allow Trustees to dip into the original endowment from NANA.  This is in place so that the Elders’ Settlement Trust can continue well into the future.