Comments on: What grade would UT-Battelle receive on treatment of retirees? http://blog.corre.info/2008/02/12/what-grade-would-ut-battelle-receive-on-treatment-of-retirees/ --discussing pensions and benefits of Oak Ridge retired employees Sun, 20 Jul 2008 15:33:14 +0000 http://wordpress.org/?v=2.5.1 By: Robert W. Henderson http://blog.corre.info/2008/02/12/what-grade-would-ut-battelle-receive-on-treatment-of-retirees/#comment-146 Robert W. Henderson Fri, 15 Feb 2008 02:04:09 +0000 http://blog.corre.info/2008/02/12/what-grade-would-ut-battelle-receive-on-treatment-of-retirees/#comment-146 I'd break their score into two parts. On looking out for retirees who have retired since 2005, I'd give them a "B" grade. Things look pretty good for those retirees right now, but I'm assuming they will forget those retirees just as they have those who retired before then, and as inflation takes it's toll, even the new retirees will suffer. On looking out for retirees who retired before 2004 with a multiplier of 1.2 rather than the current 1.4 multiplier, and who selected "surviving spouse option" such that there is a penalty of about 8%, rather than the current (since mid-2004) penalty of only 2%, I'd give UT-Battelle a grade of "F"-FAILURE in the treatment of those retirees. Other DOE site contractors who have made any improvements to their pension plans have had those changes also cover those retirees who retired previously, but not so with UT-Battelle. Strange that UT-Battelle and some of our elected officials implore our good High School students to pursue careers in science and engineering to keep our country in a position of leadership. The way they treat retirees, often who are grandparents of those High School students, who majored in those fields tends to drive the students into other fields of study. I’d break their score into two parts. On looking out for retirees who have retired since 2005, I’d give them a “B” grade. Things look pretty good for those retirees right now, but I’m assuming they will forget those retirees just as they have those who retired before then, and as inflation takes it’s toll, even the new retirees will suffer.

On looking out for retirees who retired before 2004 with a multiplier of 1.2 rather than the current 1.4 multiplier, and who selected “surviving spouse option” such that there is a penalty of about 8%, rather than the current (since mid-2004) penalty of only 2%, I’d give UT-Battelle a grade of “F”-FAILURE in the treatment of those retirees. Other DOE site contractors who have made any improvements to their pension plans have had those changes also cover those retirees who retired previously, but not so with UT-Battelle.

Strange that UT-Battelle and some of our elected officials implore our good High School students to pursue careers in science and engineering to keep our country in a position of leadership. The way they treat retirees, often who are grandparents of those High School students, who majored in those fields tends to drive the students into other fields of study.

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