CORRE Board Meeting
08/18/2021

Attendees: Whitehead, Angelelli, Whitley, Rogers, Petrie, Hightower, Swift, Gibson, Hubbard, Manrod, Kibbe, Stocks, Randolph, Peterson, Guest –Paul Wasilko, Guest-Mike Morris

• July Minutes – Approved.
In various plans.
• Treasurer’s Report – Approved.

• UCOR – Peterson
• 15 people attended Zoom meeting.
• Benefits premiums flat; benefits secure.
• 11% positive return on investment in 2020.
• 812 in RRA; 13% have not filed claim.
• Ben/Val study looks good.
• See full minutes.

• CNS – Gibson
• Pension fund ~2.5B as of March 2021.
• Benefits investment committee making adjustments.
• Doing minimum for pension plan.
• 2022 coverage same as 2021 with possible premium increase.
• 32% pre-65 retirees; 68% post-65 retirees.
• CNS committed to maintain 50/50 split but do not know how it’s calculated.
• No stipend increase.
• Could go to March 31 with contract extension.
• HRA to remain monthly.
• Will get info on participation in various plans.

• UT-Battelle – Hightower
• Met with MacIntyre and Dunnaway
• Changes in pre-65 health care plan.
• ~480 ATLC employees in co-pay plan.
• Committed to 50/50 split; reviewed annually.
• No website updates.
• PBGC questions – do not worry about takeovers.
• Now offering lump sum payouts of pensions if • They are a single employer pension plan.
• We have zip code compilation of retirees.
• We asked for % who have not filed for HRA benefit; it is a small number (3%).
• 99% get F/G/N options of United Health Care.
• October 13-31 for annual enrollment.
• Aggressively contributing to pension plan ($150M); to 100% in 3-4 years
• Stocks asked for zip code info and about future contributions to pension fund.
• Whitley – No more defined pensions except for ORNL.

• Golden Services – Rogers
• Meeting with Michelle Bowen, Brad Odum, Mike Voce from Golden; Greg McBee (retired Protective Force member) joined meeting.
• They answered our agenda questions in writing.
• They gave us a pension plan letter.
• 94% in 2018; 81% in 2019; 85% in 2020.
• Since 2000, 84 retirees (Wackenhut/NSPS/Golden)
• Med plan re surviving spouse.
• Not covered by med plan.
• DOE cleared not providing for surviving spouse.

• Planning – No report.

• Nominations – Rogers
• Process on target with Wasilko and Morris joining in 2022.
• Gibson and Manrod to fill VP slots.
• Petition for nominations on website.
• Bonnie Shoemaker has resigned – position not being filled at this time.

• Communications – Kibbe
• Email blast regarding annual meeting.
• ORNL retirees have until Sept 1 to have subsidies sent directly to them.

• Website – Manrod
• Defer domain name.
• Working on content update.

• Other Sites – Gibson
• SR planning on in-person annual meeting in Sept.

• Legislative – Whitley
• No new report.

• Annual Meeting
• Hightower -- Ask legislators to contact Kibbe for meeting link.

• Pension Fund Analysis – Gibson
• No new report.
• By-laws – Swift
• No new report.

• Other Business
• Manrod – Consensus on SP objectives/issues; package out soon.

• Domain Name – Manrod
• We have path forward.
• Hightower has sent draft brochure out for review.
• Inflation loss from 1998-2021 in pension is ~40%.
• Discussion of priority of focus.

• Whitehead – we have renewed our Zoom rights (Aug-Aug).

• We pay $188 for PO box fee (4266).

• Adjourn at 11:53.