Policy
University personnel approved for retirement may choose to have a reception, luncheon, or dinner and a gift or receive a cash award financed from a central budget account managed by the Employee Relations/Equal Employment Opportunity Office. Departments may not use any additional University funds to augment those provided in this budget. The retirement events may be combined for more than one person who is retiring.
The amount provided for the reception/luncheon/dinner and gift, or cash award is based on the individual's length of service as follows:
| Years | Reception/Dinner | Gift | Or Cash Award |
|---|---|---|---|
| 5-9 | $375.00 | $125.00 | $500.00 |
| 10-14 | $550.00 | $170.00 | $720.00 |
| 15-19 | $600.00 | $200.00 | $800.00 |
| 20-24 | $750.00 | $250.00 | $1,000.00 |
| 25-29 | $875.00 | $310.00 | $1,185.00 |
| 30+ | $1,000.00 | $375.00 | $1,375.00 |
An individual may choose the cash award in lieu of the reception/dinner and gift, which when combined, equals the cash award amount. When an individual chooses the cash award, departments should not use additional University funds to provide refreshments, a reception, dinner, luncheon, or gift. IT IS IMPORTANT TO NOTE THAT THE CASH AWARD IS ISSUED THROUGH THE PAYROLL PROCESS AND APPROPRIATE TAXES ARE WITHHELD. The award can be paid on the first payroll after the individual's official retirement date.
Retiring personnel who desire to take advantage of the cash award option should contact Employee Relations/Equal Employment Office, ext. 2-5723, to make application. Departments may use allocated funds remaining after the purchase of a gift toward the cost of a reception, luncheon or dinner. However, they may not use the funds allocated for the reception/dinner (including flowers and printing costs) toward the cost of the gift.
Those in charge of retirement recognition must stay within established financial limits. Departments should submit invoices to Employee Relations/Equal Employment Office, D-268 ASB.
If an individual does not wish to have a reception, receive a gift, or accept the cash award, the money normally allocated for these purposes may go to the respective college or library as a permanent gift.