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Old 01-21-2018, 08:44 AM
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Default Thousands of retired NY teachers rake in more than $100K in pensions

https://nypost.com/2018/01/20/thousa...k-in-pensions/

Thousands of retired NY teachers rake in more than $100K in pensions
By Dean Balsamini
January 20, 2018 | 11:26pm

The number of educators banking six-figure annual pensions in New York state surged 23 percent last year, according to a report.

More than 3,000 retirees drew pensions of more than $100,000 in 2017, according to data compiled by the Empire Center for Public Policy.

Forty-six retirees bagged more than $200,000 — including Schools Chancellor Carmen Fariña, who collected $215,582 on top of her yearly $233,430 city salary. She began receiving pension checks upon retiring in 2006 after a 40-year career in city schools.

Nine educators received pensions of more than $300,000 and five drew more than $400,000.

The pension king continues to be Edgar McManus, 93, a retired Queens College history professor who raked in $561,286 last year. The Manhattan resident retired in February 2012 after more than 50 years on the job. His final salary was $116,364.

The second-biggest pension, $436,391, went to DOE employee Mary E. O’Brien, who retired in July 2012.

“We can’t say exactly what was responsible for the jump , but it’s a trend we’ve seen across the state where taxpayers are on the hook for an increasing number of six-figure pensions,” Empire Center analyst Ken Girardin told The Post.

Unlike many pensions from private companies, public pensions in the city and the state “aren’t fixed and often rise from cost-of-living adjustments,” Girardin said.

Factoring in his World War II military service, McManus, who called it quits at 88, was credited with 61 years of service.

McManus, a widower who turns 94 in March, is beating the odds.

“I must have disappointed them. They thought I was going to die on the spot,” he told The Post last week.

“Everybody enjoys being Number 1,” he said. “It’s better than being Number 2, isn’t it?”
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