2022 CORRE Annual Meeting
Coalition of Oak Ridge Retired Employees (CORRE)
Annual Member Meeting, November 7, 2022
Agenda
- Call to Order and Welcome - Dave Whitehead, President
- Nominating Committee Report - Jim Rogers
- Election of 2023 Board of Directors - Dave Whitehead
- Treasurer’s Report - Lester Petrie
- Report to CORRE Membership - Dave Whitehead
- Questions and Comments - Dave Whitehead
- Adjournment - Dave Whitehead
Questions During the Meeting:
Use the Chat Box feature on Zoom to send in your questions or comments during the meeting. At the end, we will read them and respond.
Nominating Committee Report - Jim Rogers
Nominating Committee
- Jim Rogers (Chair)
- Cam Hubbard
- George McRae
- Mike Shelton
- Paul Standifer
- Janet Swift
- Paul Wasilko
Proposed Slate of Officers for 2023
- Dave Whitehead - President
- Luther Gibson - Vice-President
- Courtney Manrod - Vice-President
- Garry Whitley - Vice-President
- Tony Angelelli - Secretary
- Lester Petrie - Treasurer
- Judy Kibbe - Communications
- Bob Hightower - Past-President
CORRE Officers
- Dave Whitehead - President
- Luther Gibson - Vice President
- Courtney Manrod - Vice President
- Bob Hightower - Past President
- Garry Whitley - Vice President
- Lester Petrie - Treasurer
- Tony Angelelli - Secretary
- Judy Kibbe - Communications
Proposed Slate of Board Members for 2023
- Barry Burton *
- Cam Hubbard
- George McRae
- Mike Morris
- Debbie Randolph
- Teresa Riggs *
- Mike Shelton
- John Shoemaker
- Paul Standifer
- Malcolm Stocks
- Paul Wasilko
CORRE Board Members
- Barry Burton *
- Cam Hubbard
- George McRae
- Mike Morris
- Debbie Randolph
- Teresa Riggs *
- Mike Shelton
- John Shoemaker
- Paul Standifer
- Malcolm Stocks
- Paul Wasilko
Members Leaving the Board
- Sandy Davis
- Janet Swift
- Jim Rogers
* New for 2023 Biographies: https://www.mycorre.org/about/board-directors
Election of 2023 Board of Directors - Dave Whitehead
2023 Board of Directors Slate
- Dave Whitehead, President
- Luther Gibson, Vice-President
- Courtney Manrod, Vice-President
- Garry Whitley, Vice-President
- Tony Angelelli, Secretary
- Lester Petrie, Treasurer
- Judy Kibbe, Communications
- Bob Hightower, Past-President
- Barry Burton
- Cam Hubbard
- George McRae
- Mike Morris
- Debbie Randolph
- Teresa Riggs
- Mike Shelton
- John Shoemaker
- Paul Standifer
- Malcolm Stocks
- Paul Wasilko
Treasurer’s Report - Lester Petrie
October 2021 through September 2022 | |
---|---|
Beginning Balance | $21,629.82 |
Contributions | $65.00 |
Interest | $60.07 |
Total Income | $125.07 |
Less Expenses | $1,003.80 |
Ending Balance | $20,751.01 |
Report to CORRE Membership - Dave Whitehead
CORRE concentrated our efforts during the past year in the following areas:
- Held our annual meetings with the four Oak Ridge contractors to discuss topics of retiree interest.
- Reviewed all Pension Plan Annual Funding Notices and discussed them in the contractor meetings.
- Monitored DOE Contractor Solicitations/Contract Awards for retiree benefit content.
- Continued updating the new CORRE web site content: www.mycorre.org
- Prepared a Presentation/Information Package delivered to two of our Tennessee U. S. House of Representatives (Burchett and Fleischmann) and our two Tennessee U. S. Senators (Blackburn and Hagerty) -- requesting legislative corrective action for Oak Ridge DOE Contractor retirees in the following five areas:
- One-Time Cost of Living Adjustment (COLA) to correct pension payment inflation losses incurred since 1998.
- Mandate future year annual pension payment COLAs to be the same each year as received by DOE Federal retirees.
- Extend 2% flat rate reduction to obtain the Surviving Spouse Option to all Oak Ridge contractor retirees.
- Reinstate lost health care benefits to a small group of “Proforce” retiree spouses.
- Provide full funding (100% of liabilities) to DOE’s Oak Ridge contractor retiree pension fund obligation within 5 years.
Our meetings with the DOE contractors centered on the following subjects:
- 50/50 cost split commitment on retiree healthcare insurance premium costs between the contractor and retirees.
- Surviving spouse option cost inequity.
- Health care benefit loss for Proforce spouses.
- Pension plan funding status and plans to improve/achieve full funding.
- Update of summary plan descriptions of retiree benefits and posting on contractor websites.
- Improvements to contractor web sites concerning retiree benefit information.
- Data request: number of retirees by zip code (congressional district residence).
Annual Funding Notice Data as of 1/1/2021 (Participants in Pension Plans)
Total Participants | Current Employees | Retired with Benefits | Rights to future benefits | |
---|---|---|---|---|
CNS | 12,115 | 3,191 | 8,110 | 814 |
Golden SVCS | 162 | 48 | 83 | 31 |
UCOR LLC | 2,025 | 280 | 1,430 | 315 |
UT-Battelle | 11,109 | 5,195 | 5,349 | 565 |
Total | 25,411 | 8,714 | 14,972 | 1,725 |
Retirees by Congressional District 1/1/2021
2nd District (Burchett) | 3rd District (Fleischmann) | Tennessee | |
---|---|---|---|
CNS | 3,028 | 3,686 | 6,903 |
Golden SVCS | 26 | 62 | 93 |
UCOR LLC | 458 | 527 | 1,031 |
UT-Battelle | 2,126 | 2,193 | 4,484 |
Total | 5,638 (45% of TN) | 6,468 (52% of TN) | 12,511 (84%) |
Annual Funding Notice Data as of 1/1/2021 (Net Assets and Liabilities)
Net Assets | Liabilities | Assets/Liabilities (%) | |
---|---|---|---|
CNS | $2,337,686,772 | $2,196,058,110 | 106.45 |
Golden SVCS | $21,219,135 | $25,507,497 | 83.19 |
UCOR LLC | $307,527,936 | $372,389,630 | 82.58 |
UT-Battelle | $2,014,055,673 | $2,262,844,335 | 89.01 |
Total | $4,680,489,516 | $4,856,799,572 | 96.37 |
Background Information
Provided to: Tennessee U. S. Representatives and Tennessee U. S. Senators
Oak Ridge DOE Contractor Retired Workers are Suffering from Lack of Inflation Adjustments to Pension Payments
- According to U.S. Bureau of Labor Statistics CPI Inflation Calculator, $1.00 in April 1998 now needs to be $1.83 as of Sep 2022.
- Cost of Living Increases in Related Retirement Plans Since 1998 (effective Jan 2023)
- 84.7% for Federal Civil Service Retirement System (CSRS)
- 67.9% for Federal Employees Retirement System (FERS)
- For Reference, Cost of Living Increases for Oak Ridge DOE Contractor Retirement Plans Since 1998 is 0.0%.
- This difference between retired Federal and Contractor worker cost of living increases is not just and does not honor the service of Contractor retirees to the nation.
Relevant Historical Inflation & COLAs, 1998 – 2023
Increase in Price of Items (Age 62 & Over Buy), April 1998 – Sep 2022
From 1973 to 2001, COLAS for Oak Ridge Retired Workers were Implemented as soon as Inflation had Eroded Pensions by 16-37%.
Recent Oak Ridge Contractor Pension Plan Funding History
DOE Retired Workers Have Major Impact on Local Economies
Oak Ridge Contractor Retired Worker pension disbursement benefits local economies.
FY2020 Economic Impact in Tennessee:
- $294,488,293 direct
- $110,492,008 indirect & multiplier effect
- 2,739 jobs created
Source: East Tennessee Economic Council & Howard H. Baker Jr. Center for Public Policy, U.S. Department of Energy FY 2020 Economic Impact in Tennessee Report.
In Conclusion:
CORRE continues to advocate for retiree benefits:
- Working with DOE/NNSA and their Oak Ridge Contractors to protect our basic member benefits – pension payments and supplemental health insurance coverage.
- Requesting correction of any inequities and injustices within the Oak Ridge retiree benefit programs.
- Maintaining communication with other retiree organizations within the DOE Complex to look for opportunities to collaborate.
- Working with our congressional delegation to provide DOE with adequate funding and Legislative Branch support for retiree needs.
You can help in this effort too by individually contacting your representatives. They do listen to their constituents.
Questions and Comments
- Today: Zoom Chat Box
- Going Forward: https://www.mycorre.org/contact
Adjournment
Thanks for your attendance.