For filling, in large mixing bowl stir together sugar, flour, cinnamon, and nutmeg. Add peaches, then gently toss until coated. (If using frozen fruit, let mixture stand 15 to 30 minutes or until partially thawed but still icy.)

Prepare and roll out pastry for double crust pie as directed. Line a 9 inch pie plate with half of the pastry.

Transfer peach mixture to the pastry-lined pie plate. Trim bottom pastry to edge of pie plate. Cut slits in the top crust. Place top crust on filling. Seal and flute edge.

To prevent overbrowning, cover edge of pie with foil. Bake in 375 oven for 25 minutes (50 minutes if using frozen fruit). Remove foil. Bake 25 to 30 minutes more or until golden.

Meanwhile, for pecan topping, in small saucepan combine brown sugar, butter, water, and cornstarch until mixed. Cook and stir over medium heat until mixture boils. Stir in pecans. Spread warm pecan mixture over hot crust. Bake for 5 minutes more. Cool pie on a wire rack. Cover and refrigerate any leftovers. Makes 8 servings.