U.S. Labor Department sues fiduciary of ERISA-covered plan sponsored by Mokena, Illinois-based company

Mokena, Illinois – The U.S. Department of Labor has sued the chief executive officer and fiduciary to the retirement plan of TMG National Holdings for improperly using plan assets withheld from employees’ pay for the benefit of the company and other violations of the federal Employee Retirement Income Security Act (ERISA).

The department’s lawsuit alleges that in various periods during 2006, Michael Campo, chief executive officer of TMG, caused the company to retain participant contributions intended for the retirement plan or failed to remit contributions in a timely fashion. The department also alleges that Campo caused the retirement plan to engage in transactions that caused plan assets to be transferred to a party in interest in violation of ERISA. The suit seeks to recover all assets owed to the retirement plan.

“The department will continue to help workers get their benefits when plan assets are either misused or the plans are abandoned,” said Steve Haugen, director of the department’s Chicago Regional Office of the Employee Benefits Security Administration (EBSA), which investigated the case.

The suit was filed in federal district court in Chicago. Employers and workers can reach EBSA’s Chicago Regional Office at 312.353.0900 or toll-free at 866.444.3272, for help with problems relating to private sector retirement and health plans.

In fiscal year 2008, EBSA achieved monetary results of $1.2 billion related to pension, 401(k), health and other benefits for millions of American workers and their families.

Secretary of Labor v. Michael Campo
Civil Action Number 08-01277

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