I have never heard of a big party for the "Undertaker of the Year", but I'm sure that like every industry, they have conventions and they may dole out awards.
I noticed that a lot of Columbo killers are at the peak of their careers. Paul Galesko is making a big comeback, Dr. Mayfield was about to release his new research, Carsini was just voted Man of the Year, Findlay Crawford's music was being celebrated, Justin Price was having his own nightclub's grand opening, etc. So I guess they thought an undertaker deserved the same, lol.
I found all of the undertaker jokes about as amusing as Eric Prince did.