Nope. I, as the DM, automatically "inherit" any dumped PCs.
All retired PC's become NPC's in my campaign.
But I work with the player to decide what the PC is doing in retirement, and I don't try to change the nature of the character at all.
Occasionally, the PC's will encounter one of the retired characters, often from another another campaign that most/all of them might not have participated in. It adds a lived in feeling of verisimilitude to the campaign: for example, when I had a plot where the PC's are sent to rescue missing adventurers, the players were quite concerned, as they thought it was a real, live party of PC's that had been TPK'd in another campaign. It wasn't, but it was nice to have them take the premise seriously.

Another time, another party was trying to rescue the long lost remains of a dead PC to get him resurrected. Definitely a cool plot!