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Help for Congressman Wamp

Zach Wamp has worked hard and accomplished much for CORRE members on the pension problem and has recently said to Frank Munger (N-S 8/23/06) that he could use some help. We believe that CORRE members should try to get that help by e-mailing Alexander, Frist, Duncan, and Davis or any others you can reach. The talking points are:

Mr. Wamp has worked hard and now needs the proactive help of other Tennessee legislators.
DOE Notice 351.1, along with many other statements, makes it abundantly clear that DOE is NOT going to allow any improvements in the existing defined benefit (DB) pension plans unless legally required to do so.
The primary problem is: Current defined benefit plans that have no contractual or legal basis for adjustments needed to offset increases in the cost of living coupled with the DOE's plan not to authorize contractor reimbursement for such expenditures. A secondary problem is that DOE has not administered equivalent practices at its several sites nor between groups at the same site. These practices include: a) the use of different multipliers for different sites and different retiree groups at the same site, b) different rules governing spousal penalties for different groups of retirees, and c) different rules for cost-of-living adjustments.
The Pension Protection Act of 2006 does not remedy these problems and in fact may exacerbate them if DOE continues to meet DB funding requirements by reducing benefits.
The Oak Ridge Pension Plan is funded at 120% of the required level by payments made prior to 1984. These funds must not be used to fund under-funded plans at other DOE sites while O.R. retirees have a poorer pension than the sites being helped. Furthermore, an over-funded plan that under-pays some its retirees is not a noteworthy accomplishment.

If we truly believe that we deserve better treatment then we must raise the help Congressman Wamp needs and deserves. Without it we may fail. Thank you for your support,

For addresses see: http://home.comcast.net/~brooks50/PensionPlanInformer.htm or
http://home.comcast.net/~brooks50/FederalLegislators.htm

Working for Fair, Equitable, and Competitive Benefits

for

13,000 Former K-25, Y-12, and ORNL Employees

Coalition of Oak Ridge Retired Employees P.O. Box 4266, Oak Ridge, Tennessee 37831-4366

Questions and comments may be sent to CORRE President