HOUSTON, July 3 (UPI) -- More than 20,000 former Enron Corp. employees who finally got back a fraction of their retirement funds were incorrectly paid, The Houston Chronicle reports.
A pension-fund contractor hired to calculate who gets how much is at fault, the former energy company said.
The contractor, Lincolnshire, Ill.-based Hewitt Associates LLC, blamed Enron as the fund administrator responsible for overseeing its work, the newspaper reported.
The dispute is going to court and ex-employees who waited for several years for their portion of a $265 million settlement will have to wait for a federal judge to sort out the disagreement.
In a court filing, Enron said Hewitt used faulty computer software to calculate allocations, so 7,700 people received too much money while 12,800 didn't receive enough.
Hewitt acknowledged an undetected data error relied on a wrong stock price and miscalculated allocations.
But it said Enron was the fund administrator responsible for overseeing the process.
An Enron spokesman said no one who was overpaid would have to return part of their portion of the faulty $22 million distribution. Instead, a future payment will be lower for those who were overpaid and increased for those who were underpaid, he said.
