Retired steward on the night before an event (5)

I believe the answer is:

reeve

I'm a little stuck... Click here to teach me more about this clue!

'retired steward' is the definition.
'reeve' can be an answer for 'steward' (I've seen this before). I'm unsure of the 'retired' bit.

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for reeve that I've seen before include "mate of the ruff" , "Old-style magistrate" , "The bailiff to run a rope through" , "US actor" , "fasten rope" .)

I've seen this clue in The Times and The Sunday Times.

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