Jacobson, et al. v. Board of Education of the City of Chicago
Analysis Group Vice President Edi Grgeta was retained by the Board of Education of the City of Chicago, the defendant in this matter, in a case filed in the Circuit Court of Cook County, to assess the alleged damages suffered by a class of Chicago public school principals incurred as a result of the enactment of school reform legislation in 1989 and 1990. Dr. Grgeta filed an expert report and testified in a deposition about the value of the incremental pension and other benefits the principals would have received but for the legislation. At issue were the appropriate discount rates for pension benefits, the appropriate interest rate at which damages suffered in 1991 should be carried to the present, and the appropriate use of hindsight regarding the changes in interest rates over time and the longevity of the plaintiffs. The case settled on terms favorable to our client.