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Retirement
(redirected from retirement account)

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.
Retirement 

(1) In prerevolutionary Russia from the 18th century, the term “retirement” referred in the broad sense to any separation from military or civilian state service, including retirement upon the request of the person separated. Compulsory retirement could be effected by a court decision or by administrative order.

(2) A form of separation of officers, generals, and admirals from military service in the Soviet armed forces. According to the Law on Universal Military Obligation of 1967, officers, generals, admirals, marshals of the combat arms, and admirals of the fleet who have reached the maximum age for the reserves or who have been separated from military service for reasons of health are removed from the military rolls and placed in retirement. A person’s right to wear the military uniform with insignias is specified in the separation order.

(3) In the practice of bourgeois states, the government or the chief executives (for instance, the president of the USA) are said to retire if they resign their position because of a vote of no confidence, censure, or disagreements within the government.



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Declines in financial markets have lead to declines across all types of retirement plans, with individual retirement accounts (IRAs), defined contribution (DC) plans, private defined benefit (DR) plans, and state and local government pension plans all having similar percentage declines in assets over this period.
Lower participation rates have led to smaller account balances for African American and Hispanic workers, who are also more likely to borrow money from their retirement accounts.
The non-spousal rollover lets retirement account assets be transferred to a designated beneficiary upon the retiree''s death and the hardship distribution allows retirement account assets be used for a medical or financial emergency of a beneficiary other than a spouse or a dependent.
 
 
 
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