The duo have been offered fresh terms to remain with the club when their current deals expire this summer, as has Alan Sheehan, despite Luton taking up the option of an extra year on him already.
McCormack made just 16 appearances in total for the Hatters during an injury-hit campaign, but proved what a vital component he was for the side, as on his return, Town won five and drew two of the seven games he started.
Rea was the only member of the squad to play 50 games in all competitions, featuring in the holding role and central defence, as on the trio, Jones said: “We’ve offered contracts to Alan McCormack, Glen Rea, taken up Alan Sheehan’s option, but we are offering him a new contract, so those are ongoing at the minute.
“The thing with Alan was he showed for the last six weeks of the season, why we brought him here, it’s just we need that from him more, we need that for longer.
“That’s up to us and Alan to make sure we can achieve that moving forward, but we realise he’s an important player, so we’ve put an offer to Alan that we’re hoping will keep him at the football club.
“Glen’s versatility is key to what we do. He was one of my first signings, we’ve moved forward together, we’ve got a very good relationship, and we hope to get that done.”