Configuring Document Retention and Disposal
When you create an expiration policy to apply to documents, you must choose what action SharePoint will take when the expiration date is reached. One of the options available is Delete, which moves the document to the Recycle Bin as a normal user delete action would. However, this option hides the file so that it is not visible to users. Administrators will still see the file listed in the Site Collection Recycle Bin and can restore it from there. When an expired file is restored, it is automatically marked as exempt from expiration policies to prevent it from being deleted again. Once the exemption is removed, it is once again subject to the expiration policy and will be deleted during the next expiration ...
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