I don't know if that's true or not as I haven't attended any recent Mod meetings. And nobody I know who did attend the last one mentioned receiving elite status.
The only thing I've received as a mod recently was a $5 Amazon Gift Card from IB last Christmas which was a 50% cut in gift $$'s from the previous year when Randy sent me a $10 Starbucks card for Christmas.
And I've received zero for my six years on TB and I don't expect anything for volunteering in either capacity. I do believe that IBB's are going to have to start compensating folks that serve in various positions in the future but that's a topic for another thread.