The demographic shift toward older populations of physicians is well documented across much of the globe. As a result, it is becoming imperative that academic organizations generate research to inform understanding of both individual and institutional needs relating to these faculty members. The 2 reports by Skarupski and colleagues in this issue of Academic Medicine build on the research that is available, expose some new areas for consideration, and raise new lines of inquiry for researchers interested in studying late-career faculty and faculty transitions. The author of this Invited Commentary aims to situate Skarupski and colleagues' findings relative to what the academic medicine community knows-and does not know-about late-career faculty members, the institutions that employ these faculty, and the complex relationships therewith. Specifically, the author explores the following: the demographics of those considering retirement; the connection between identity and retirement decisions; the alignment between institutional and faculty member needs; institution preparedness; mentoring; and theoretical constructs and areas for inquiry that may inform future investigations.