The Oakland Police and Fire Retirement System (PFRS) is a closed, single-employer defined benefit pension plan that provides service and disability retirements, and survivor benefits for eligible sworn safety employees of the City. PFRS covers the City’s uniformed employees who have not transferred to the California Public Employees’ Retirement System (CalPERS). As a result of a City Charter amendment, known as Measure R approved by the electorate on June 8, 1976, membership in the plan is limited to uniformed employees hired prior to July 1, 1976. All subsequent hires are covered under CalPERS.
PFRS is exempt from the regulations of the Employee Retirement Income Security Act of 1974 (ERISA). PFRS is also exempt from federal income taxes and California franchise tax.
PFRS was established by Article XXVI of the Oakland City Charter on July 1, 1951. Article XXVI combined the Police Relief and Pension Fund (article XIV) and Firemen’s Relief and Pension Fund (article XV).
As of June 30, 2017, PFRS membership consisted of 516 Police and 370 Fire retirees.