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 ?
Moore, 76, a retired Foreign Service officer, died Dec.
The bottom line of this Turkish early retirement story is that we have to find a way to increase the number of retired people in the workforce, particularly young retired women.
Corporations are subject to fines and bad press if their retired high-tech assets are not disposed of properly, case in point, the city of Houston.
The retired set-builder who worked on ``Roots'' and ``Back to the Future'' experienced his first knee troubles on the job, and they got worse over the years.
2005-24, IRB 2005-16, 892, an employer sponsored a reimbursement plan for the substantiated medical expenses of both current and former employees (including retired employees), their spouses and dependents.
Mike Vatuna, retired (formerly director of materials, Trex Co.
The retired priest expressed hope that more people would donate their books.
Rationale: The 2003 ADAA House of Delegates directed the Council to prepare a proposed bylaws amendment that would provide for the ADAA Journal at no cost to retired life members.
Another option available to increase retired women's cash flow is a reverse mortgage--a loan against your home that you do not have to pay back until you die, sell your home, or move out.
The DAV will continue to fight for the removal of the prohibition on concurrent receipt of VA disability compensation and military longevity retired pay," said National Legislative Director Joseph A.
Piwonka, retired, The University of Alabama; Thomas Prucha, Intermet Corp.
Although retired audit firm partners possess many attributes that would make them excellent audit committee members, it may be extremely difficult for them to fulfill public expectations of independence and objectivity.