Abdication :  (noun)
1: a formal resignation and renunciation of powers [syn: stepping down]
2: the act of abdicating [syn: stepping down]

abjuration, abjurement, cession, demission, deposal, dropping out, emeritus status, forced resignation, forswearing, handing over, relinquishment, renouncement, renunciation, resignation, retiral, retirement, superannuation, surrender, voluntary resignation, waiver, withdrawal, withdrawing, yielding,