Ex-Enron Employees Told To Return Retirement Money

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Ex-Enron Employees Told To Return Retirement Money

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Problem blamed on accounting firm mistake
Posted: 5:15 PM Nov 24, 2008
Last Updated: 8:59 PM Nov 24, 2008
Reporter: Mike McKnight
Email Address: sixonline@wowt.com

21 comments

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Long before government bailouts became big news another distressed corporation captured the headlines. Enron sank years ago and some former employees and spouses fought for their retirement money. Now a few are receiving notice they should pay it back.

Peg Jimerson of Omaha hasn't completely retired. “It's the best job I've ever had, watching my two grandkids."

She depended on an Enron retirement payment to help make ends meet, but the accounting firm hired to divide up settlement money miscalculated what some had coming and Peg received notice in the mail to pay back a $1,918.16 overpayment.

“I wasn’t expecting this to be honest with you and the fact that it did come when it did, right before the holidays. I was kind of hoping Santa Claus would come with something better than that."

A spokesman for Enron says about 13 percent of former employees and spouses have been overpaid by the accounting mistake. Harlan Loeb says any of them can dispute the amount, but they shouldn’t ignore the request to repay the overpaid amount. The dispute process can take up to 90 days.

Peg is choosing not to pay back the money for now and wait for another repayment notice because she invested her Enron settlement in the stock market.

“I really wasn’t concerned until I talked to my financial guy and he said there’s not much left there either. I don't believe this."

The accounting firm that made the error is being sued.

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Comments are posted from viewers like you and do not always reflect the views of this station.

Posted by: zack on Dec 11, 2008 at 09:20 AM
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Posted by: Dave on Dec 2, 2008 at 09:46 AM
I think what has happened is horrible. I spent 17 years with Enron and am trying to find out who I need to contact about my retirement. Can anyone give me information?

Posted by: Scott on Nov 26, 2008 at 09:07 AM
Awesome, it's been exactly 22 years to the day that I sat in my mom's office right after she was "let go" and was shattered. Another Merry Christmas. Of course she was told not to worry because her job was safe. Maybe "our" new president can bail out some folks who really deserve it.

Posted by: Brad on Nov 25, 2008 at 05:57 PM
DON'T GIVE THEM A CENT ! They robbed you blind and lied to you- your leaders committed several felonies and many never did a day in jail. Tell them if they want their money to go get a job and earn it themselves- just like you did when your executives were robbing you blind !

Posted by: ME on Nov 25, 2008 at 12:57 PM
Get the money from the accounting firm hired to figure out who gets what. They made the mistake, not the people who recieved the checks.

Posted by: Steve on Nov 25, 2008 at 11:13 AM
My dad was an accountant for Enron for 26 years before he took early retirement. Luckily, he still gets his check for now. There's NO WAY IN HELL that these people should have to pay back a penny to these clowns ! ! ! My dad lost almost everything he had in stock before the company crashed. I can understand what these people are feeling. My dad feels the same.

Posted by: Viki on Nov 25, 2008 at 09:25 AM
This is ridiculous. This company has victimized their former employees over and over and over. When does it stop? If they made the mistake, maybe they should take the loss instead.

Posted by: HA! on Nov 25, 2008 at 08:46 AM
They need to just suck it up! If it was THEIR error, they can deal with it and take the loss! How horrible, these people should NOT be held accountable for an irresponsible corporation's mistake. Someone needs to step up and help these people who are being told to pay up.

Posted by: dave on Nov 25, 2008 at 08:30 AM
Enron made the mistake live with it .Its like getting back to much change at the store opps and you dont give it back you let them take the loss and maybe they wont do it again..

Posted by: lm on Nov 25, 2008 at 08:17 AM
helen, the only comments you have are in regards to the elderly. Enron did not just victimize the elderly. I know plenty of middle aged people who's lives were horribly effected by them. All the money they built towards retirement was gone and they had no fall back SSI income. I understand that you must be elderly yourself but come on....

Posted by: Anonymous on Nov 25, 2008 at 08:14 AM
Let them keep the money. They never received all they should have any how. Plus this was someone elses error. Let the accounting company that made the error pay back the funds!

Posted by: AMAZING on Nov 25, 2008 at 08:14 AM
THIS COMPANY ALREADY PUT THEIR EMPLOYEES THROUGH A LOT OF STRESS. I SAY FOR WHAT THEY WENT THROUGH THEY DESERVE THE OVERPAYMENTS AND MORE, LET THEM KEEP IT, IT'S THE ACCOUNTING FIRMS MISTAKE, THEY NEED TO SUCK UP THE LOSS. I'M QUITE SURE THE TOP EXECUTIVES GOT HUGE RETIREMENT SETTLEMENTS, PLUS BONUSES IN SPITE OF THE FAILING COMPANY...ASK THEM TO PAY IT BACK SINCE THIER ACTIONS SUNK THE COMPANY. STOP STICKING IT TO THE LITTLE GUY.

Posted by: Laura on Nov 25, 2008 at 07:49 AM
If someone received an overpayment, it is common sense to understand it may need to be repaid. While we can get sidetracked by the notion that the exec's should be paying back money they are not entitled to, it is just as wrong for the more common person. Some people think that it is only wrong to steal (or keep overpayments) if you are considered wealthy or better off. There should be some payment plan to help these retirees from having to come up with lump sum, especially so close to the holidays.

Posted by: To Helen on Nov 25, 2008 at 07:44 AM
It's not just the elderly that are affected by this.

Posted by: Tom on Nov 25, 2008 at 03:18 AM
I'd say I'll pay mine back after the high dollar execs that stole millions pay all of theirs back.

Posted by: judy on Nov 25, 2008 at 01:22 AM
those people had enough taken from them, and they didnt make the error,the accounting firm did,so let them pay it back! leave these people alone!

Posted by: MaX on Nov 24, 2008 at 10:32 PM
Helen, you have no idea what Enron was, do you?

Posted by: Anonymous on Nov 24, 2008 at 09:56 PM
E is for EVERYONE that Enron gave the shaft N is what you get (Nothing) when the accountants laughed R is for RETURN that check you shouldn't have gotten O is for OVERPAYMENT - Life sure is rotten N is for NEVER give in to these crooks of fare. Whats this spell? I don't care. And neither should you. Amen.

Posted by: D on Nov 24, 2008 at 09:55 PM
What a dispicable thing to do to these victims of Ken Lay and his criminal collegues. I'd refuse to repay-let them sue. It'll cost more than the money they overpaid. I hope Ken Lay is burning in hell. Shame on that accounting firm. Your screw up, your loss.

Posted by: helen j on Nov 24, 2008 at 09:43 PM
I think its terrible the way Enron victimizes the elderly. They should be held to criminal charges.

Posted by: Phil on Nov 24, 2008 at 08:38 PM
What a shame. This company executives steal from its employees, many who lost 10's of thousands of dollars, and the stock owners who lost everything. I say too bad. Take me to court.