The Coalition of Oak Ridge Retired Employees (CORRE) was formed in Calendar Year 2000 to represent the interests of and speak out for the approximately 13,000 employees who have retired from Department of Energy (DOE) contractor-managed facilities at Oak Ridge, Tennessee. These facilities are: Oak Ridge National Laboratory (ORNL), K-25 Gaseous Diffusion – more... Plant (K-25), and the Y-12 Plant (Y-12). The primary objectives of CORRE are: 1) to obtain and maintain pension and other benefits that are fair and equitable and competitive compared with other major DOE federal and private contractors in the technical field; and 2) to safeguard the pension fund from which these benefits are derived.
The Pension Trust Fund set aside for these retirees was recently reported to have over $1 Billion surplus after all liabilities for current employees and retirees were conservatively estimated. This pension plan is required to fully comply with ERISA by DOE Order 350.1.
CORRE was instrumental in influencing the Department of Energy and BWXT Y-12, contract manager for the Y-12 Plant and prime contractor administering the major contractor pension plan for DOE in Oak Ridge, to make some adjustments in the pension plan effective April 1, 2001. However, several deficiencies and issues remain that appear to conflict with ERISA regulations related to vesting, participation and nondiscrimination. – less – More from ZoomInfo »
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