retire

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retire

1. To discontinue formal employment or work at a specific place or task. In the past, in many industries, educational institutions, and public service, retirement was mandated when an employee had attained a specified age. This practice has lost its attractiveness to a large segment of the workforce, esp. among those who enjoy work. See: recreation
2. To go to bed.
References in periodicals archive ?
Kiplinger's Personal Finance, said one reason Mississippi scores so high for being tax friendly for retirees is because the state exempts all qualified retirement income from state taxes.
The "traditional" approach to retiree health benefits is a multi-step process for retirees and providers:
Dela Rosa belied the claims of some retirees that he submitted a position paper to Malacanang agreeing to a proposal that retirees would not be entitled to a pay increase due to the government's meager resources.
These results show a significant mismatch between what employers told us and what retirees said they experienced in preparation for health care costs, which are a significant retirement expense," says John Barkett, a director for Towers Watson's Exchange Solutions line of business, in New York City.
By 2010, 32 percent of workers expected retiree health benefits, while only 25 percent of early retirees and 16 percent of Medicare-eligible retirees had them, Fronstin says.
The Retiree Benefits Bankruptcy Protection Act provides, in the relevant part, "Not withstanding any other provision of this title, the trustee shall timely pay and shall not modify any retiree benefits, unless the court, on motion of the trustee or authorized representative of the retirees, orders, or the trustee and the authorized representative agree to, the modification of such benefits" (11 USC section 1114[e]).
As the population is aging and the demand for services is growing, UnitedHealthcare's Connector Model allows employers to 'hand off' the plan administration burden while still offering meaningful retiree plan choices without overwhelming the retiree," says Funk.
The forced switch costs the affected retirees an additional $1,156 annually.
The law does not, however, prevent school districts from taking cost-cutting measures, so long as these apply equally to active employees and retirees.
Some retirees could receive payments from both departments, but officials hope to synchronize the process to limit confusion for retirees.
The increasing numbers of retirees, rising health care costs and the growing trend of cost-shifting medical insurance premiums from employers to retirees ensure that other courts will address this issue.
Now, retirees are as likely to sit at their child's college, high school or even elementary school graduation as they are an afternoon matinee, and their own mother may be attending, too.

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