Higher education institutions are seeking to ease faculty retirement transitions and to identify ways in which retiring faculty can continue to make contributions in retirement. The University of Southern California and Clemson University, among others across the United States, have established emeritus colleges and retiree centers to offer retired faculty the opportunity to make encore contributions by remaining intellectually engaged in the professoriate. One way retired faculty can remain engaged in the profession is through mentoring their younger counterparts. Research has shown mentoring increases senior and retired faculty productivity, stability, and feelings of usefulness. For institutions where it is cost prohibitive, a newly established mentoring and advocacy-networking program may offer a mutually beneficial solution: Increasing Minority Presence within Academia through Continuous Training (IMPACT). The IMPACT mentoring program is sponsored by the National Science Foundation Office for Broadening Participation in Engineering. Distinct from other mentoring models, IMPACT moves beyond advisory mentoring to include professional networking and advocacy by emeriti faculty who are uniquely positioned to provide these resources to underrepresented minority (URM) faculty. The IMPACT program serves as a model to higher education institutions interested in smoothing the retirement transition for their faculty and supporting their continued engagement at their institution. This need is only intensifying, as retirees have a strong desire to remain in academia. The program also serves as an example for ways in which retired and emeriti faculty can support a new generation of rising faculty, particularly those from marginalized groups. Creating similar programs and employing retired faculty as mentors in higher education institutions across the country can provide valuable benefits to the mentors, mentees, and the overall academic community.