retirement
Definition 1
The period of a person's life during which he/she is no longer working, or the commencement of that period. The standard age for retirement in the United States is considered 65, although many individuals choose to retire earlier or later due to personal or financial reasons. After retirement, an individual's needs are usually funded through any combination of sources including a pension plan, a retirement acount such as a 401(k) plan, Social Security, and/or a savings account/nest egg.
Definition 2
The disposal of a fixed asset at the end of its useful life.
The period of a person's life during which he/she is no longer working, or the commencement of that period. The standard age for retirement in the United States is considered 65, although many individuals choose to retire earlier or later due to personal or financial reasons. After retirement, an individual's needs are usually funded through any combination of sources including a pension plan, a retirement acount such as a 401(k) plan, Social Security, and/or a savings account/nest egg.
Definition 2
The disposal of a fixed asset at the end of its useful life.
Mentioned in these terms
Related Terms on BusinessDictionary
non-qualified deferred compensation (NQDC)
deposit administration contract
social security integration level
employee profit sharing plan (EPSP)
endowment insurance
extinguishment
golden boot
national insurance
partial retirement
partnership agreement
pension maximization
phased retirement
salary reduction plan
attrition
business failure
system life
credited service
system life cycle
expendable trust fund
deferred profit-sharing plan
deposit administration contract
social security integration level
employee profit sharing plan (EPSP)
endowment insurance
extinguishment
golden boot
national insurance
partial retirement
partnership agreement
pension maximization
phased retirement
salary reduction plan
attrition
business failure
system life
credited service
system life cycle
expendable trust fund
deferred profit-sharing plan
Popular 'Retirement' Terms
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