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Coalition of Oak Ridge Retired Employees (CORRE) Working for Fair, Equitable, and Competitive Benefits For Former K-25, Y-12, and ORNL Employees 107 Antioch Drive Oak Ridge, Tennessee 37830 July 20, 2004 City - County Mayor Local representatives, councilmen, and commissioners Chamber of Commerce Local members of Tennessee Legislature Dear _________________________: CORRE Request for Your Assistance Our organization, the Coalition of Oak Ridge Retired Employees (CORRE), represents the interest of more than 11,500 employees who have retired from the Department of Energy contractor–managed facilities at Oak Ridge, Tennessee. We are seeking your assistance in our effort to maintain pension benefits that are fair and equitable, and to safeguard the Pension Trust Fund from which these benefits are derived. This is an important issue for local and state governments and economic organizations in that the very welfare of a large number of citizens is at stake in this matter; and, consequently, the welfare and economy of the region and state. We are continuing discussions with the prime contractors of DOE facilities in Oak Ridge, with managers of DOE-ORO and with our members of Congress, to obtain equitable administration of the pension fund. Your support would be of great assistance to us. Such support may be in the form of a letter of recommendation or resolution, or other appropriate communications, speaking favorably of CORRE goals. An example can be found in the resolution of the County Commission for Roane County, Tennessee, which supports fair, equitable and competitive retirement benefits for former DOE Oak Ridge prime contractor employees (Enclosure 1). Our principal objectives are to maintain pension benefits that are fair and equitable, and to safeguard the Pension Trust Fund from which these benefits are derived. Several adjustments have been made in retiree pensions in the last two decades. However, these adjustments have resulted in recovery of less than 50% of inflationary losses. More than sufficient funds are available in the Pension Trust Fund to accommodate a reasonable adjustment at this time. Our specific proposal for 2004 is an increase in pension benefits to restore an average of 75% of the pension value that retirees have lost due to inflation since retirement. This would add about $25 million per year to the pensions of retirees living in East Tennessee, and have an economic impact of $56 million per year in the area (Enclosure 2). Details of this proposal and the future goals of CORRE are provided in the CORRE 2004 Position Paper (Enclosure 3) and summary graphs of CORRE Positions (Enclosure 4). I have also included a copy of "Petition for Pension Increases for DOE Contractor Retirees" (Enclosure 5), which has been signed by approximately 5,864 retirees, spouses of retirees, family and friends in support of CORRE goals. If you have questions, please contact any of the following members of CORRE’s Legislative Committee:
We would appreciate your help with this important matter involving the welfare of so many people in this region. Sincerely, David E. Reichle President, CORRE Enclosures (5) |
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