New York Post, Retired CUNY Professor Gets $560K a Year Pension:
He’s New York’s pension king.
Retired Queens College history professor Edgar J. McManus, 90, gets a city pension of $561,286 a year, newly released figures show. His payout is the highest by far in both the city and state teachers retirement systems, according to data obtained by the Empire Center for Public Policy, an Albany-based think tank. ...
The city’s second-biggest pension, $308,358, goes to Alvin Marty, a Baruch College economics professor who retired after 55 years in 2008. Fifteen other retirees collect more than $200,000 a year — including city Schools Chancellor Carmen Fariña, who gets $208,506. And 1,796 retired educators get more than $100,000 a year. ...
McManus, who has written groundbreaking books on slavery, retired in February 2012 after teaching history and constitutional law for more than 50 years. His final salary was $116,364. “They don’t pay you much when you’re working, but the pension is certainly good,” McManus told The Post. “Darn right I deserve it.”
With his World War II military service added in, McManus was credited with 61 years of service for pension purposes. His pension is based on 1.2 percent of his final salary for each year before 1970, 1.53 percent for each year after 1970, and accounts amassed with investments of his own and city contributions. His payments are also bigger because he retired so late in life.
(Hat Tip: Glenn Reynolds.)