We introduced a business process for procedures when hiring a new employee (Stuff That Needs to Be Done When Hiring the New Guy), so today let's look at a business process for when someone retires.
HR was in charge of initiating the welcoming of the newcomer, but retirement procedures should probably start with the retiring employee's supervisor, who should be the first to know about it.
In reality, however, supervisors are busy and often let some of their tasks become delayed. Which means the above workflow may not flow well. So it's probably safer to include the retiring employee in the workflow.