Abdicate [ab: away + dicare: to dedicate, consecrate, or set apart]
The literal meaning of abdicate is: to set oneself away from something.
The dictionary definitions do not deviate far from the literal meaning.
Abdicate: To relinquish; to renounce; to abandon; to abandon an office without a formal resignation, or permission.
Or, my personal favorite (and completely erroneous):
Abdicate: To give up all hope of ever having a flat stomach.