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 ?
According to him, though Radio Lagos/Lagos television is financially insolvent to pay the retirees' terminal benefits, the governor will do his utmost before handing over.
Eight retirees from the Malaysian National News Agency (Bernama) were among those at the event.
Yolanda Duhaylungsod, a 65-year-old retiree, previously assigned at the
Considering the sensitivity and socioeconomic impact of the hiring of retirees by the government, isn't it about time for our economic managers to take a serious look at the issue?
The retirees said the PNP has become a publicly-funded collection agency for private companies.
Placing levies on military retiree payments, which veterans rely on, creates a burden on veterans already struggling to make ends meet.
Retirees' spending patterns may differ substantially from preretirement expectations--the biggest deviation is around health and long-term care costs.
Further, it found that all three groups of retirees, on average, lowered their spending the more years they were retired, with the highest-wealth group showing the largest spending drop over time.
Most of the retirees are from China, Korea, Taiwan, India, Japan, United States and Australia.
Medicare Advantage retirees rely on their former employer for medical benefit security.
It's time to change the outdated laws that make military retirees pay for their own VA benefits.