Sealaska Elder Benefits

There are two benefits for original Sealaska shareholders when they turn 65.
  1. A one-time payment from the Elders’ Settlement Trust
  2. Issue of 100 shares of Class E, or Elder Stock

About One-time Payment from the Elders' Settlement Trust

The Elders' Settlement Trust (Trust) was approved by a shareholder vote in 1991. Sealaska shareholders who hold Class A, B or C stock can receive a one-time payment from the Trust when they turn 65.

Shareholders who are eligible for the one-time payment from the Trust, will automatically receive a one-time payment after they turn 65. The amount of the payment will be $20 per share, for original shares owned on November 2, 1991. For example, if you owned 100 shares on that date, you will receive a $2,000 payment.

Class E Shares, or Elder Stock

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

Eligibility for Class E shares includes the following:
  1. Alive on December 18, 1971 and still living
  2. Enrolled and issued original Sealaska stock
  3. Not enrolled in any other ANCSA Regional Corporation, except by gifting or inheritance
  4. Not enrolled to the Metlakatla Indian Community subsequent to original enrollment in Sealaska
Sealaska shareholders eligible for Class E shares will automatically receive 100 Class E shares when they turn 65. A certificate and Elder ID will be mailed after their birthday.

About Class E Shares

  1. Class E shares are non-voting and are considered life estate stock and cease to exist upon the death of the shareholder. A shareholder may own other types of shares, that are eligible to vote
  2. Class E shares are eligible for payments from the Shareholder Permanent Fund and Sealaska operations
  3. Class E shares are not eligible for ANSCA Section 7(j) payments
  4. Class E shares cannot be gifted or willed
  5. Class E stock does not change other stock an elder may already own

Opting-out of the Elders’ Settlement Trust Payment and/or Elder Stock

In the three months leading up to an eligible shareholder’s 65th birthday, a letter will be sent to the shareholder. If the shareholder does not wish to receive either the payment or the shares (if eligible), they will need to indicate on the letter and return the letter to Sealaska.

If no action is taken by the shareholder, the payment and/or elder stock will be issued upon turning 65.