No./Title: F720 – RETIREMENT RECEPTION
Resp. Office: FINANCE
Effective Date: 04/26/2017
Last Review: 05/23/2019
Next Review: 01/04/2021
Contact: Mike Ebbs, Associate Vice Chancellor
Related Policies: FI0720 – Retirement Receptions HR0120 – Employment of University and State Retired Employees
To summarize the process for determining whether an employee is eligible and how to request approval for a Retirement Reception.
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.
- 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.
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.