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The extant literature on volunteering has focused primarily on the many benefits of volunteering for older adults. However, the question rarely investigated is whether these benefits dissipate when older adults retire from their volunteering. Given the U.S. policy context wherein volunteering is promoted as a solution to the problems of aging, this research investigates the association between the loss of one's volunteering role through retirement and well-being. Utilizing three waves of the U.S.-based National Social Life, Health, and Aging Project (NSHAP) (2005–2016) and a fixed-effects modeling approach, we find that the well-being of older adults, measured as self-reported health, happiness, and depressive risk, is negatively associated with volunteer retirement. Our study contributes to the literature on well-being and volunteering for older adults and is the first study focusing on this critical transition point in the life of older volunteers. In addition, policymakers and organizations must broaden their focus to include not only the recruitment and retention of older adult volunteers but also the transition out of volunteering that many of them will eventually face. [ABSTRACT FROM AUTHOR]