resignation

A resignation is the formal act of giving up or quitting one's office or position. A resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a position upon the expiration of a term is not considered resignation. When an employee chooses to leave a position, it is considered a resignation, as opposed to involuntary termination, which occurs when the employee involuntarily loses a job. Whether an employee resigned or was terminated is sometimes a topic of dispute, because in many situations, a terminated employee is eligible for severance pay and/or unemployment benefits, whereas one who voluntarily resigns may not be eligible.  Abdication is the equivalent of resignation of a reigning monarch or pope, or other holder of a non-political, hereditary or similar position.