Heather, I have heard some elders try to split hairs by saying "stepped aside." In this area they just avoid saying either one, just saying they have been "deleted" not to be confused with "removed."
Here are some quotes that show that the WTS uses the phrase "stepped down" more often. The WTS is the one that calls the elders "princes, chieftains, glorious ones."
*** w90 9/1 22 Are You Reaching Out? ***
Indeed, humble longtime elders can continue to make their experience available by remaining on the body of elders. Though handicapped by age or disabilities, they need not step down.
*** w88 1/15 27 A Convention That Increased Our Trust in Jehovah ***
Entitled
Loyal Submission to Jehovah and His Organization, it contained much food for thought as it portrayed how an elder felt compelled to step down because his daughter was exposed as one leading a double life.
*** w74 7/1 408 Humbly Conform to Jehovah's Way for Salvation ***
How did the former "congregation overseers" or "congregation servants" react? Almost every one of them humbly accepted the change and was appreciative that Jehovah had guided His organization into a closer conformity with early Christianity. These individuals willingly stepped down in the sense of becoming part of a body of elders, made up of equals, rather than being the one individual looked to as the overseer of the congregation.
*** km 10/72 8 Question Box ***
If a brother has been serving faithfully for some years and has seen evidence of Jehovah?s blessings upon him, why should he now step down from office? If he has the right viewpoint now on conduct and will give good counsel he should be able to continue to serve. If the local body of elders see that he has the respect of the congregation and has shown the proper qualifications over the last two or three years, he may remain in his position of service.
*** km 12/79 3 You Must Show Consideration for Older Persons ***
Although suffering from various health problems, many older brothers serve as elders and ministerial servants. What a fine example they are to us! When the limitations of age prevent them from doing as much as they would like to do now, there is no need for them to step aside, feeling they are no longer serving the congregation.