retirement


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Related to retirement: Retirement age

Retirement

Removal from circulation of stock or bonds that have been reacquired or redeemed.

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.

retirement

1. The disposal of a fixed asset at the end of its useful life. Retirement may result in a gain or loss, depending upon any compensation received for the asset and whether the asset is carried at a positive book value.
2. The voiding of a firm's own stock that has been reacquired and is being held as Treasury stock.

retirement

the termination of an individual's working career at a certain age with the expectation that he or she will no longer undertake paid employment. In the UK the normal retirement age for men has been 65 and for women 60. European law has a big effect on retirement benefits in the UK. For some time it has been required that men and women have the same pension rights in occupational schemes despite differing retirement ages, thereby meaning that women's benefits are more favourable than men's. The European Court of Justice has now ruled that benefits should be the same. This could mean that the retirement age for women will become 65. Another recent innovation, stemming from the Court, is that part-time workers can no longer be excluded from occupational pension schemes. Until recently many occupational pension schemes excluded part-time workers but the Court has ruled that since many part-time employees are female, exclusion could be a form of DISCRIMINATION.
References in periodicals archive ?
presidential candidates were crisscrossing the country questioning the future of Social Security, Americans for a Secure Retirement released another dire readiness report, and The National Retirement Planning Coalition made "serious challenges" the locus of its upcoming National Retirement Planning Week.
Eligible family members who decide to withdraw money from their retirement plans may do so through March 31, 2006.
Thus, retirement plan assets have been considered a marital asset subject to division in divorce and attachment for child support.
Seongsu and Feldman (2000) investigated employment that followed retirement by studying the retirement of 371 professors from the University of California system who accepted an early retirement incentive package in 1994.
The suit was filed on behalf of three of our members who looked at the amount of compensation the county granted them at retirement and noticed that they had chiseled out all these parts,'' said David Williams, president of the Ventura County Deputy Sheriff's Association.
The study, which surveyed heads of household between the ages of 30 and 59 earning at least $40,000, shows that most folks are not saving enough to meet their retirement goals.
Since then, the Perot voters' obsession with deficit reduction, the Tsongas-founded Concord Coalition's focus on the entitlement time bomb, and the 1994 Bipartisan Commission on Entitlement and Tax Reform's widely reported findings that entitlement programs are the major source of the federal deficit have made it possible to suggest substantive reforms of retirement programs in polite company.
Benefit cuts - most likely in terms of higher retirement ages, lower cost of living adjustments, and more benefits taxation - are inevitable.
Here is how the plan might work for Mike, who was mentioned at the beginning of this article, if his final salary (annualized salary over the last 30 months of employment) is $50,000 and there is a modest rate of return on the retirement system's investment portfolio of 6 percent per year.
An additional 59 professionals indicated retirement between 2000 and 2005.
1 Great-West Retirement Services refers to products and services provided by Great-West Life & Annuity Insurance Company, FASCore, LLC, First Great-West Life & Annuity Insurance Company, White Plains, New York, and their subsidiaries and affiliates.
We go back a long way selling life insurance, but in terms of meeting the needs of retirement or the broader array of financial products--investments and life insurance, protection and preparation--we've really just started that six years ago in selling through our agencies," said Edward Biemer, president of Allstate Financial's retail/broker dealer operation and head of financial distribution.