While that is how it is talked about, it isn't correct. Ships are commissioned and decommissioned, squadrons are established and disestablished.
IIRC, under the current rules once a squadron is disestablished it cannot be brought back. Even if a unit gets the same numerical designation it is considered a new unit, and the unit history starts anew. However, a unit can borrow from the past, and it will be described as "assuming the traditions, patch, etc of the (old unit)". So yes, there could be a VFA-75 "Sunday Punchers" flying the JSF some day, and it can borrow all the old Punchers stuff, but it is a new squadron.