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About Sealaska Elder Benefits
Wednesday, February 9, 2022

As Sealaska celebrates its first 50 years of history, we can look back with great pride in the knowledge that the early leaders of our company sought to ensure Elders are recognized and cared for through additional shareholder benefits. The Elders’ Settlement Trust was established at the same time, which provides a one-time payment to shareholders when they turn 65. (To qualify, you must have owned stock in Sealaska in 1991.) 

Today, about 5,000 shareholders are 65 years of age or older and make up 20% of Sealaska’s total shareholder base.   

In 2019, Sealaska automated the Elders’ benefits process, making it easier for shareholders to receive their Elders’ benefits. Between 2014-2021, Sealaska paid $11 million in Elders’ benefits. During that same period, Sealaska issued 226,100 shares of Class E stock.  

How Do I Receive Elder Benefits?  

In 2019, Sealaska automated enrollment for Elder benefits. (Shareholders may opt out of this benefit if they prefer. Contact Shareholder Relations for information.) Sealaska will email or send a letter in the mail notifying shareholders about their impending eligibility for Elder benefits.   

What Are Class E Shares? 

In 2007, Sealaska shareholders approved issuing 100 Class E shares to original shareholders when they turn 65 or older. 

  • Class E shares are non-voting and are considered life estate stock, which means they cease to exist upon the death of the shareholder. A shareholder may own other types of shares that include voting rights. 
  • Class E shares are eligible for payments from the Marjorie V. Young Shareholder Permanent Fund and Sealaska operations. 
  • Class E shares are not eligible for ANSCA Section 7(j) payments. 
  • Class E shares cannot be gifted or willed. 
  • Class E stock does not change or invalidate other stock an Elder may already own—it is issued in addition to existing stock. 

What Are the Eligibility Requirements for Class E shares? 

  • Born on or before December 18, 1971 and still living 
  • Enrolled and issued original Sealaska stock 
  • Not enrolled in any other ANCSA regional corporation, except by gifting or inheritance 
  • Not enrolled to the Metlakatla Indian Community after original enrollment in Sealaska  

Sealaska Supports Elder Programs Throughout Southeast Alaska 

Sealaska has significantly evolved over the past several years and our recent financial stability has allowed us to increase investments in what we care most about: our people and communities. Sealaska proudly supports organizations that provide services to elders and we’re happy to share just a few that are doing good work throughout the region. 

Questions?  

Contact Shareholder Relations: 

 

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