Status that halts the clock

I've heard rumblings about a new status that is somewhere between Open and Closed that halts the clocks. I would use this for several situations where ticket responsibility leaves the support our support department so we want to stop the resolution time clocks but we want to keep the ticket open to inform the customer when the work has been completed.

A) Is my understanding accurate about how this would work?
B) If so, Do we have a projected release date for this?

Thanks!