City of Concord Retirement System Plan – The retirement system is a closed plan and is a single employer defined benefit pension plan covering all full-time employees of the City retired prior to June 28, 1999. The plan provides retirement and death benefits for general and police employees as well as disability benefits for police employees. General employees are eligible for retirement benefits at age 50, provided the employee has completed 20 years of service or has accumulated contributions in excess of $500 and was employed before June 30, 1990; or has completed 5 years of service and was terminated after July 1, 1991. Sworn police employees are eligible for retirement at age 50, provided the employee has completed 20 years of service or has accumulated contributions exceeding $500. Retirement benefits are determined based on the employee’s length of service, highest one-year compensation upon retirement, and age at retirement.