Historically, retirement was an "event," a one-time, one-way exit from the world of work to the golden years of full-time leisure. This definition is increasingly problematic, because many older workers retire from one job only to take on another, often well before age 65, or else move into a new career in unpaid civic engagement. Moreover, downsizing and early retirement packages, as well as (one's own or older relatives') health problems, mean that people today may find themselves retired well before they expected to be. In this chapter, we draw on a life-course, role-context perspective to consider retirement both as a collective social demarcation and as a biographical event in …