How does post expiration work?

The docs are not clear on how post expiration works.

  • Should there be a built-in second date field to set when to expire posts? If so where can I add it? Do I need to add it manually?
  • Or maybe an 'expired' post means a post that has been published but then unpublished?

I was hoping to do something like auto-expire posts from a collection after 12 months.

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