I am being relocated to another state. I will then be required to work two years to retain my relocation benefits. I want to retire during that time.

You have the option at this point to either retire now, look for a different job, or make the move the company is offering.  As they are paying you some extra money to pay you to relocate or cover your moving costs, they want to make sure you do not take that money, and then quit or retire before a 2 year period.  If you leave the company before the 2 years are up, your agreement probably requires that you repay all or a pro-rated portion of the money they paying you to relocate.  The proration may be, for example, that you have to repay half the money of if you retire after 1 year instead of 2 years later.  All of this should be spelled out in an agreement the company will have you sign before you get any of that relocation money