|Wilmington Trust Company: If you owe an amount|
As you were previously notified, all disputed calculations related to the Tittle Action Settlement Funds have been resolved and final aggregated allocation amounts have either been distributed to eligible claimants or have been transferred to a default IRA account with RolloverSystems, Inc. (“RSI”). In 2007, the distribution of your share of the first Tittle Action Settlement Fund was transferred to a default IRA established on your behalf with Wilmington Trust (the “Wilmington IRA”). However, as an overpaid claimant, you were notified that an amount up to your overpayment owed to the Enron Corp. Savings Plan (the “Plan”) would be transferred from the Wilmington IRA back to the Plan.
On March 27, 2009, the overpayment owed to the Plan will be transferred from the Wilmington IRA back to the Plan. To the extent any other offsets have become available, they have been applied to the overpayment amount to reduce the amount to be returned to the Plan. Also on March 27, 2009, any amount remaining in the Wilmington IRA after the overpayment is returned to the Plan, including any interest on the amount originally deposited in the Wilmington IRA, will be transferred to an IRA account established with RSI. The cost of the transfer of the Wilmington IRA to the RSI IRA will not be charged to you. The transfer is necessary due to Enron’s imminent dissolution.
The funds received from the Wilmington IRA will be invested in an investment product designed to preserve principal and provide a reasonable rate of return consistent with liquidity. The Federated Automated Cash Management Trust CII meets that criteria and will be the fund into which the Wilmington IRA funds are deposited, until you direct otherwise.
Account information packets will be mailed out to you during the first week of April 2009. Should you wish to receive the funds from your RSI IRA account, no distribution fee will be charged for distributions requested within 30 days of transfer. For information regarding or access to your RSI IRA account, please contact the RSI Retirement Center at 1-888-472-7678.