Voluntary Retired List

A player who submits written notice of retirement while under contract to a club or while under club control can be placed on the Voluntary Retired List.

A player on the Voluntary Retired List does not get paid while on the list, does not accrue service time, and does not count against the club's Active List or Reserve List.

A player on the Voluntary Retired List must spend at least 60 days of the regular season on the list before he can apply for reinstatement. If the player is placed on the Voluntary Retired List within 60 days of the conclusion of the regular season, the balance of the 60 days would carry-over into the next season.

If an MLB player on the Voluntary Retired List is reinstated during the MLB regular season, he may consent to a "conditioning" assignment (with or without pay - TBD) with a minor league affiliate of his club for up to 30 days prior to being reinstated. 
NOTE: A player receives MLB meal money and other benefits associated with being an MLB player while on a minor league "conditioning" assignment.  

A player on an MLB Voluntary Retired List cannot be reinstated during the period of time extending from August 1st through October 31st, and a minor league player on the Voluntary Retired List cannot be reinstated during the period of time extending from August 1st through the conclusion of the season (including post-season).