No./Title: F720 – RETIREMENT RECEPTION	Resp. Office: FINANCE	Effective Date: 04/26/2017
Category: Accounting	Last Review: 05/23/2019	Next Review: 01/04/2021
Contact: Mike Ebbs, Associate Vice Chancellor	🕿 901.448.5523	🖂 mebbs@uthsc.edu
Related Policies: FI0720 – Retirement Receptions HR0120 – Employment of University and State Retired Employees

PURPOSE

To summarize the process for determining whether an employee is eligible and how to request approval for a Retirement Reception.

BACKGROUND

University Fiscal Policy FI0720 – Retirement Receptions provides in detail the guidelines to be followed with respect to retirement receptions and should be used as the official reference. Departments may spend up to $1,000 in unrestricted university funds for a retirement reception when an employee retires. The maximum amount spent on a reception may not exceed $1,000, whether from one or several cost centers or WBS elements. If multiple retirees are honored at one event, the $1,000 maximum amount applies to each retiree.

CRITERIA

• According to Human Resources Policy HR0120 – Employment of University and State of TN Retired Employees an employee must meet one of the following to be considered a retiree:
  • Age 60 with at least 5 years of service
  • Age 55 with at least 10 years of service
  • Any age with 25 years of service.
• Retirement receptions are considered an entertainment expense.
• Receptions may include refreshments or meals. Expenses may include gratuities, invitations, paper products, etc.
• Gifts for retiring employees may not be purchased with university funds (including restricted and unrestricted funds) and university funds may not be used to make a charitable donation or for other purposes in lieu of a reception. Gifts may be purchased with funds donated by faculty, staff, or others.

APPROVAL PROCESS

Department heads may approve the use of unrestricted funds for a retirement reception up to $1,000. Exceptions to this policy must be obtained from the Chief Financial Officer.