Margaret Reilly-Petrone (Sister Margaret Mary, IHM) died on March 20, 2026 in Dove Canyon, California. She was born on February 9, 1929 to James Patrick Reilly and Mary Burns Reilly in Los Angeles. Margaret attended Immaculate Heart of Mary grammar school in Hollywood and Immaculate Heart High School. After a year of college at Immaculate Heart College, she entered the Immaculate Heart Religious Community in 1947. She taught High School at Our Lady Queen of Angels High School, Immaculate Heart High School and Mary Star of the Sea High School from 1949 to 1957. In 1957, Margaret began the pursuit of a PhD from Fordham University, NYC obtaining that degree in Economics in 1963.

Margaret's teaching experience brought her back to Immaculate Heart College, where she taught Economics for four years. As the Immaculate Heart Community transitioned to a non-canonical ecumenical community, she made the decision to leave the Community. She then accepted a position as Associate Professor at St. Peter's College in Jersey City, New Jersey. In 1970, Margaret accepted a Professorship and Chairmanship of the Department of Economics at Montclair State University in Montclair, NJ where she remained until the end of her teaching career in 1989, retiring as a Professor Emeritus.

In 1980, she was the first person from New Jersey appointed to the Consumer Advisory Council of the Board of Governors of the Federal Reserve System in Washington, DC becoming Vice-Chairman of the Council in 1982. In 1964 during the Civil Rights Movement, Margaret taught at Rust College, a black Methodist College in Holly Springs, Mississippi. In the 1980's and 1990's, she was a business/economics reporter for the local NJ/NY cable TV station and an active member of the National Council on Economic Education.

In 1973, Margaret met James Petrone and they married in January, 1974 at St. Cassian's Church in Upper Montclair, New Jersey. Jim was the Director of Human Resources for the Essex County Division of Welfare in Newark, NJ as well as the Hearing Officer for the state-operated Board of Education in Newark NJ.

In 1999, the couple moved to Dove Canyon, CA where they became active in San Francisco Solano parish in Rancho Santa Margarita. Margaret participated in the parish as a Lector, Eucharistic Minister and RCIA Instructor. In her later years, she participated in the Prison Ministry.

Margaret leaves her husband, James and very many nieces, nephews and grand-nieces and grand-nephews.