Illinois Car Dealer Forced to Refund Employees' Retirement Accounts

Tim Healey
by Tim Healey

Today's shady dealership story comes to us from the Chicago suburb of St. Charles.

This is where Nissan of St. Charles owner Fred Vargason was forced to pay more than $13,000 out of his personal accounts toward his employees' retirement funds.

Apparently, Vargason and his store weren't remitting employees' voluntary retirement contributions to their accounts during 2019.

Furthermore, Vargason and his company can no longer serve as fiduciaries or service providers to any Employment Retirement Income Security Act, nor can they commit further violations. A third party has been appointed to oversee the retirement plan, and Vargason also has to pay for that.

This time it was dealership employees, not customers, that got screwed.

[Image: Jon Rehg/]

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Tim Healey
Tim Healey

Tim Healey grew up around the auto-parts business and has always had a love for cars — his parents joke his first word was “‘Vette”. Despite this, he wanted to pursue a career in sports writing but he ended up falling semi-accidentally into the automotive-journalism industry, first at Consumer Guide Automotive and later at He also worked as an industry analyst at Mintel Group and freelanced for, CarFax,, High Gear Media, Torque News,,, among others, and of course Vertical Scope sites such as,, and He’s an urbanite and as such, doesn’t need a daily driver, but if he had one, it would be compact, sporty, and have a manual transmission.

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