Retire and sketch (8)
I believe the answer is:
withdraw
'retire' is the definition.
('withdraw' can be a synonym of 'retire')
'and sketch' is the wordplay.
'and' becomes 'with'.
'sketch' becomes 'draw' (I've seen this before).
'with'+'draw'='WITHDRAW'
(Other definitions for withdraw that I've seen before include "Recall" , "Take, go, back" , "depart?" , "Extract" , "Bow out, retreat" .)