What is what does emeritus mean?

The term emeritus is used to indicate a former holder of a position, especially one who has retired but is allowed to retain the title as an honor. It is commonly used in academia, where retired professors or scholars are given the title of emeritus, which signifies their contributions to their field and allows them to continue to be associated with their institution. The word emeritus comes from Latin and means "having served one's time" or "having been discharged."