NANA Elders' Settlement Trust Announces 2016 Distribution

ANCHORAGE, ALASKA – Feb. 1, 2016 – The Trustees of the NANA Elders’ Settlement Trust voted to issue a $1,000 per Elder dividend for 2016 for a total distribution of $811,000. The distribution will have a record date of Feb. 5, 2016, and a payment date of on or about Feb. 15, 2016. The distribution is not taxable.


Elders who need to update their information can contact their community NANA office, email Shareholder Records at records@nana.com, or call 1-800-478-3301 by Feb. 4th at 5 p.m. AKST.


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.

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 Feb. 5, 2016, with a payment date of on or about Feb. 15, 2016. Elders who have elected to receive their dividend via direct deposit will receive it that day. It should arrive within a week to 10 days for those Elders who receive the distribution by mail.


Q. WHAT IS THE ELDERS’ SETTLEMENT TRUST?

NANA established the NANA Elders’ Settlement Trust in 2008 to provide a modest, yet needed, special distribution to NANA shareholders who are 65 years of age or older. The Trust is a separate organization from NANA but was established by NANA to honor the Elders in alignment with the Iñupiat Iḷitqusiat Values.


Q. HOW DOES THE TRUST DECIDE HOW MUCH TO DISTRIBUTE?

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.