POLICY
Retirement & Leaving Gifts
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| Policy No.: | P-CS-16-010 | Approved on: | September 19, 2016 |
| By-Law No.: | 4898-16 | Effective on: | September 20, 2016 |
| Supersedes: |  | | |
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| Report To: | Corporate Services Advisory Committee |
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PURPOSE
The purpose of this policy to provide guidelines when an employee retires or leaves employment with the Town.
POLICY STATEMENT
In the event that an employee retires, or resigns from their employment at the Town (under favourable circumstances), consideration will be given to the contribution of a monetary sum towards a retirement or leaving gift from the Town based on the status of the employee and their length of service. This policy is discretionary and any contributions must be approved by the C.A.O. in advance.
PROCEDURE
1.0 Upon notification of a retirement or resignation; and once approval for a gift has been given by the C.A.O.; the Executive Assistant to the C,A.O. will be responsible for coordinating and organising the purchase of a gift on behalf of the Town and will use the matrix that follows to confirm the maximum monetary sum available under this policy.
2.0 For purposes of this policy, all costs related to the purchase of retirement and leaving gifts must be clearly marked as such and charged to the ‘Corporate Expenses Account- Retirement Recognition.’ The following matrix will be used to assess the eligible monetary amount for the gift to be spent by the Town.
YEARS OF SERVICE |
Up to 5 | Up to 10 | Up to 15 | Up to 20 | Up to 25 | Up to 30 | Up to 35 | 35 + |
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$50.00 | $100.00 | $300.00 | $400.00 | $500.00 | $600.00 | $700.00 | $800.00 |
3.0 It should be noted that this policy is separate and apart and does not relate to any gifts or collections made by individuals or groups of employees. |