CORRE Board Meeting
08/13/2022

Attendees: Whitehead, Hightower, Gibson, Petrie, Kibbe, Hubbard, Rogers, Standifer, Shelton, Davis, Manrod, Shoemaker, Morris

Guests: Donna Cox, Barry Burton

Meeting called to order at 10:03

• July Minutes – Approved.

• July Treasurer’s Report – Approved

• CNS – Gibson
• Met with CNS on 7/14/2022. The Annual Funding Notice (AFN) was discussed and determined that the pension was compliant.
• CNS will contribute to the pension plan although not required.
• There are no plans to increase the health care plan stipend.
• CNS is likely to be at Y-12 for several years.

• Golden Services – Rogers
• No new report.
• CORRE submitted comments to DOE on new proposed contract, suggesting different approach to contract.
• No response from DOE or ORNL (who was identified in the new approach).

• UCOR – Manrod
• CORRE has a strong interface with UCOR: an in-person meeting was held 7/26/2022 with Malarkey and Hickey of UCOR.
• A new contract was put in place in May 2022. The name of the company was changed to reflect broader reservation cleanup responsibilities than just ETTP.
• The Annual Funding Notice shows pension funding level is 82.5%. UCOR will contribute $16.8M this year, and anticipates contributing approximately $5M in future years. The estimate ROI on pension investments is 6.2%.

• UT-Battelle –Hightower
• No new report.

• Planning – Gibson
• Trying to recognize ideas for improvement. A suggested option for improved e-mail service is associated with our web site. Hubbard and Kibbe to get with our web adviser and recommend a path forward.

• Nominations – Rogers
• Annual meeting presentation was reviewed

• Communications – Kibbe
• Will send out annual meeting reminders as called for.

• Website – Hubbard
• No new report

• Other Sites – Standifer
• A comprehensive response was received from the SRL retiree organization
• SRL retirees have made three unsuccessful attempts at pension increases; legislative action seen as only likely successful option.
• The SRL retiree organization offers a retiree resource center for its members that has been successful.
• SRL retiree organization charges annual dues.
• Idaho retirees are planning a social get-together next month.

• Governmental Relations
• No new report.
• We need to set up meetings with our congressional representatives.
• Courtney Manrod has accepted this challenging assignment.

• Annual Meeting – McRae
• No new report.

• Pension Fund Analysis – Gibson
• Updating inflation indices.
• Following pension updates for a variety of other organizations.

• By-laws
• No new report.
• We have identified several items to be added to the by-laws in the bi-annual update next year.

• Executive Committee – Whitehead
• Dry run for legislative presentation was completed last month. Comments/suggestions are still being accepted.

• Other Business – Whitehead
• Annual Audits/Reviews
• Dave Whitehead requested approval for appointing Donna Cox next year as an advisor to handle the annual audit/reviews replacing Ken Moore. Donna has agreed to do this and the board approved this appointment unanimously.

• IRS Reporting
• David Carr (our CPA advisor) has completed and has sent the Forms 990 EZ for years 2015-2021 to the IRS.

• Adjourned at 11:06.

The next Board Meeting will be at 10:00 on September 21 via ZOOM.

Submitted by Bob Hightower