retire

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Retire

To extinguish a security, as in paying off a debt.

Retirement

1. The act or process of causing a security to cease to exist. It especially applies to debt securities; when a bond for example matures is said to be retired. However, a stock or other security may also be retired if its issuer buys it back.

2. A situation in which one stops working in one's old age, or at least when one has saved enough money to last the remainder of one's life. Generally, retirement occurs after the age of 65, but this is not a hard-and-fast rule. Both governments and companies offer pensions, annuities, and other plans to provide for one's financial needs in retirement.

retire (a debt)

To pay off a loan.
References in periodicals archive ?
The average age retired Americans report actually retiring has always been lower than nonretirees' expected age of retirement, and is 60 in this year's survey, matching the average generally found since 2004.
A second component of the settlement was the creation of a licensing agency to identify and create opportunities for retired players, as well as provide monetary benefits to the Greater Good Fund.
The elder with dozen other tribesmen demanded and urged, Governor KPK, Chief Secretary and Political Agent Khyber Agency to immediately take action against him and send home the retired reader to APA otherwise, they would come out to the roads to stage protests against the retired employee of administration.
Dikeos, 90, a retired Foreign Service officer, died Jan.
Now, the share of retired individuals to those employed increased from 28.
Ninety percent retired under the age of 65, with the average being 57.
High-tech assets can also be retired in extremely small quantities from multiple locations.
But, in his next breath, he says that such contracts or jobs "corrode the ethics" of retired senior officers.
Most seniors want to stay independent by living in their own homes as long as possible, so the MPTF has started a new initiative to repair the homes of retired film and television industry workers.
Under this option, P would continue to reimburse all eligible retired employees for medical care, until all unused accumulated amounts are exhausted.
Peters, retired (previously principal engineer, blow molding, ChevronPhillips), Bartlesville, Okla.
Portman, who is retired, referring to about 300 books in the collection, which were sent recently with financial assistance from the partnerships department of the Anglican Church of Canada.