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 ?
The retiring practitioners were motivated to make the transition in this form because it let them keep control over their book of business, allowed them to come and go as they saw fit and let them continue to manage their clients.
EBRI's Salisbury likes to give the example of a retiring Secret Service officer with an average background.
What about losing the accumulated of the retiring CEO?
The average age retired Americans report actually retiring has always been lower than nonretirees' expected age of retirement, and is 60 in this year's survey, matching the average generally found since 2004.
After retiring to Medina, Ohio, in 1976, she was an active volunteer with the hospital and historical society.
It provides for payment to each retiring partner on the basis of the partner's age, physical condition and years of service, or a combination of age, physical condition and years of service.
has been named to replace Chairman Gary Countryman, who is retiring.
Retiring in Washington after attaining the lower/middle civil service job grade of GS-9, Weldon receives less than $15,000 a year in pension benefits.
Those affluent investors who are still employed may be retiring sooner than they expect.
After retiring in 1990, he worked as a contractor for the Foreign Service Grievance Board.
FONTANA - One of the first times NASCAR Nextel Cup Series driver Rusty Wallace talked about retiring from racing was just before the Daytona 500 in 2001.
736 classifies payments made by an ongoing partnership to liquidate the interest of a retiring or a deceased partner's successor-in-interest.