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 ?
Example 4: Pursuant to an arm's-length agreement with a retiring partner, Z, partnership XYZ allocates $150,000 to Z's share of intangible assets in a Sec.
After retiring in 1967, he helped found the Swedish Council of America and launched the quarterly journal Swedish American Genealogist, which he edited until 1997.
She also worked as a nursery school teacher in Winnetka before working for and retiring from the Department of Motor Vehicles.
The change is effective for partners retiring or dying on or after Jan.
The benefit of retiring with work-connected disability retirement pensions as compared with a normal retirement is that it can pay workers a higher percentage of their salaries - half of it tax-free.
It was supposed to be a temporary job, Al says, but he wound up staying for 32 years, retiring as a foreman.
Some 50 people gathered at the Elks Club lodge for patriotic speeches and songs before a detail of Boy Scouts doused the flags with diesel fuel and set them ablaze, the congressionally approved protocol for retiring the national banner.
At the same time, a sea change has occurred in preferences for retiring earlier or later than that age point.
8 million workers will be needed in just the top five sectors to replace those retiring by 2022.
After retiring, she returned to her hometown of Annapolis.
More than one half of those who have not retired said not saving enough or diminished investments were the reason they will delay retiring.
On the directions of Chief Executive LESCO Saleem Akhtar, pension cases of retired employees were disposed off immediately so that retiring employees may not suffer at their retirement, he added.