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 receive a letter and opt-in form, in the mail. The one-time 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 receive a letter and opt-in form in the mail. Class E shares will not be issued, until the opt-in form is returned to Sealaska.

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