No./Title: 432 – LONGEVITY PAY
Resp. Office: HUMAN RESOURCES
Effective Date: 11/01/1981
Last Review: 08/24/2018
Next Review: 08/24/2021
Contact: Damon Davis
Related Policies: HR0432 – Longevity Pay
To recognize faculty and staff for their years of service with the university and state.
- After completing 36 full-time equivalent (FTE) months of service at 82.05 percent time or more with the University of Tennessee, the Tennessee Board of Regents, and/or any other agency of the state of Tennessee, employees are eligible to receive longevity pay as authorized by state law.
- Employees who are in an active pay status for one or more days during their longevity anniversary month are eligible for the longevity payment for that fiscal year.
- Longevity is paid at the rate of $100 times the number of years of years of service. The maximum benefit level is 30 years.
- Longevity pay is distributed on the 19th of the month following the employee’s longevity anniversary month, unless the 19th falls on a weekend or holiday. Employees with June anniversary dates are an exception and will receive payment in June.
- Longevity pay is subject to federal income tax withholding and Social Security/Medicare taxes at the prevailing rates. Longevity pay is included when calculating retirement benefits and overtime payment.