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 ?
But if he loses to Mayorga, De La Hoya said he would then retire and not fight in September.
Retiring partners get to start the process, achieve some long-term goals and maintain a measure of independence until they retire, while the successor firm benefits more than from a straight purchase or standard merger.
They reported the highest marital conflict if they retire but their wives haven't yet.
In short, it will help you figure out how much you spend each year while you're working and estimate how that's likely to change after you retire.
As baby boomers retire en masse and acquiring firms become more discriminating about the types of practices they buy, practitioners with unfunded retirement plans may face tough realities when they're ready to leave the work force.
I think what most agencies are experiencing is that population all started working for the county at about the same age and now they are all getting ready to retire at about the same time.
If a partner's firm has a high valuation when he or she retires, the retiree can reap the fruits of a lifetime of effort by cashing out and allowing younger partners to make payments.
Under a qualified plan, an employer can offer an employee (other than a 5% owner) who attains age 70 1/2 in a calendar year after 1995 and has not retired by the end of that year the option to delay commencement of benefit distributions until no later than April 1 following the calendar year in which the employee retires from employment with the employer maintaining the plan.
Shows how the Social Security Administration (SSA) computes retirement benefits and how this affects the decision on when to retire.
That Sanders retires needing only 1,458 yards to supplant Payton as the NFL's all time leading rusher was shocking only to those deaf to the beat to which Sanders marches.
1, 1994, GHI, a partnership in which capital is a material income-producing factor, retires the interest of G, who had owned 10% of partnership profits, losses and capital.
Under the terms of its agreement with FINOVA Capital Corporation (FINOVA), the Company will save $325,000 (part of the $475,000) in fees if it retires all its other remaining debt with FINOVA by September 30, 2001.