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 ?
During the meeting it was also reviewed that how many KMC and DMCs employees will retire in near future and how much funds will be required.
Fear of loss of autonomy and income are the primary reasons retirement-minded practitioners in small firms often procrastinate until they are ready to retire for good.
In another case study, sole practitioner John Smith, who had $150,000 in annual fees and wanted to retire in four years, structured a similar two-stage deal.
2: We're Living Longer, So You'll Need More Money When You Retire. People are living beyond 80 and 90, and chances are, you'll be one of them.
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.
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. "The standard is that people will need 70%-80% of their pre-retirement income in retirement," says Bill Harris, a financial planner with Asset Dynamics in Toledo, Ohio.
You pay in over time and when you retire you take the money out, along with whatever earnings and appreciation your money has earned.
Thus, if employees (other than 5% owners) who attained age 70 1/2 in 1996 and did not retire from employment with the employer maintaining the plan by the end of 1996 were offered the opportunity to make an election to defer commencement of benefits rather than to begin receiving benefits from the plan by Apr.
In early 1994, BCD retires the interest of C, who held a 22% interest in partnership profits and capital.
Once their foreign assignments end, some of these employees decide to retire in the host country.
But it is military retirees who truly enjoy the high ground.
* Shows how the Social Security Administration (SSA) computes retirement benefits and how this affects the decision on when to retire.