Former WRRS CEO Michael Sacco Abused Public Funds
Summary
The Massachusetts Office of the Inspector General released an investigation finding that former Worcester Regional Retirement System (WRRS) CEO Michael Sacco expanded his private law practice while being paid a full-time public salary. The OIG found that Sacco only worked 20 to 30 hours per week for WRRS while attending 350 outside board meetings, court hearings, and other engagements on behalf of private clients during WRRS business hours, without using leave time. The OIG made 28 recommendations, including that the WRRS Board pursue recovery of funds for allegedly unused vacation time and that the Legislature prevent passage of House Bill 2931 which would exempt Sacco from post-retiree earnings caps.
“Mr. Sacco severely undermined the trust placed in him as the CEO of a public retirement system with 14,000 members”
Public retirement system executives holding full-time positions should review their outside employment arrangements against their fiduciary obligations — the specific pattern here (private client work during business hours without leave) is what the OIG found most problematic, independent of the salary issue.
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GovPing monitors Massachusetts OIG for new government & legislation regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 3 changes logged to date.
What changed
The OIG investigation found that former WRRS CEO Michael Sacco systematically prioritized his private law practice over his public duties, attending 350 outside engagements during business hours while only working 20 to 30 hours per week for the retirement system. Sacco failed to produce any newsletters, ceased regular staff meetings, missed investment committee meetings, and severely curtailed member outreach for the system's 14,000 members.
Public retirement system executives in similar full-time positions should ensure their outside employment does not conflict with their fiduciary duties to the systems they manage. Massachusetts operates 104 public retirement systems, and the OIG has recommended that the Legislature consider stronger oversight mechanisms to prevent similar abuses.
Archived snapshot
Apr 22, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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- Office of the Inspector General
Press Release
OIG Finds Former Retirement Board CEO Abused Public Funds
The OIG found that a former CEO of the Worcester Regional Retirement System (WRRS) expanded his private law practice while being paid to work full-time for the retirement board.
For immediate release: 3/11/2026
- Office of the Inspector General
Boston, MA — A former CEO of the Worcester Regional Retirement System (WRRS) expanded his private law practice while being paid to work full-time for the retirement board, according to a report released today by the Office of the Inspector General (OIG).
The OIG initiated an investigation in 2023, after receiving a complaint alleging former WRRS CEO Michael Sacco was working extensively for other public retirement boards during WRRS business hours and using his public office and public resources to perform legal services for his private law practice’s clients.
“Mr. Sacco severely undermined the trust placed in him as the CEO of a public retirement system with 14,000 members,” Inspector General Jeffrey Shapiro said. “Beginning in his first week on the job, Sacco attended meetings on behalf of his private clients during business hours, without using leave time. This was not only a direct contradiction of the assurances he gave the Board prior to his hiring that he would confine his outside work to non-business hours, but also suggests that he was improperly paid a full-time salary.”
Through its investigation, the OIG found that Sacco, by his own admission, only worked 20 to 30 hours a week for WRRS, attended 350 outside board meetings, court hearings, and other engagements on behalf of private clients nearly all during WRRS business hours, and did not use leave time while traveling to and vacationing in Florida. At the same time, he neglected or underperformed in his duties as CEO, including failing to produce a single newsletter, ceasing regular staff meetings, failing to attend investment management committee meetings, and severely curtailing public outreach activities for members.
The OIG has 15 findings and made 28 recommendations including that the WRRS Board pursue recovery of funds paid to Sacco for allegedly unused vacation time, which is contradicted by the findings in the report. In addition, WRRS should report to the Public Employee Retirement Administration Commission (PERAC) a recalculated length of service to reflect the number of days he was working for private clients.
Finally, the Inspector General called on the Legislature to prevent passage of House Bill 2931 that would exempt Sacco for the post retiree earnings cap, which then would require him to pay back improper post-retirement earnings, and to consider steps to provide strong oversight of the state’s 104 retirement systems.
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Carrie Kimball, Communications Officer
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Office of the Inspector General
The Office of the Inspector General (OIG) is an independent, non-partisan oversight agency mandated to prevent and detect fraud, waste, and abuse of public resources at the state and municipal level across the Commonwealth of Massachusetts. We serve the residents of Massachusetts, state and local governments, and those who work with the government.
Media Contact
Carrie Kimball, Communications Officer
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Online
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