Times are good for SUNY Albany President George Philip.

He earns $280,000 at his day job – and also collects an eye-popping $261,037 annual pension.

Philip pulls in the extra pay thanks to his previous gig as chief of the New York State Teachers’ pension fund.

His pension is the largest in the state’s system – and one of a whopping 1,378 that top $100,000, according to data released yesterday by the Empire Center for Public Policy.

“These people are entitled to these pensions, but the question is whether or not taxpayers can continue to pay such generous pensions in the future,” said Lise Bang-Jensen, an analyst with the Empire Center.

State pension payments cost taxpayers $7.2 billion in 2009, up from $4.2 billion in 2001, the state Controller’s office says.

The number of retirees earning $100,000-plus pensions has also jumped, the Empire Center reported.

Among those earning top pensions are disgraced ex-Controller Alan Hevesi ($105,221) and former Gov. George Pataki ($101,200).

Bang-Jensen blamed the increase in $100,000 pensions on rising salaries and employees cramming extra overtime during their final years, a practice known as pension padding.

The state’s pension system includes 342,543 retired employees of state and local governments outside of New York City.

City employees have their own pension system.

The state’s top pension earners include two retirees from the New York Public Library: Priscilla Southon and Mary Kay Conwell.

Southon retired as senior vice president for human resources in April 2008 and pulls in $188,847 a year.

Conwell, who retired in August 2004, collects $185,530 for her role as the library’s director of branches.

Southon and Conwell declined to comment when reached yesterday by the Daily News.

Philip also took a pass on talking about his pension payout, which pushes his annual take to $541,037.

Morgan Hook, a spokesman for Gov. Paterson, said the governor shares the center’s concerns about the sky-high pensions.

Hook noted the state adopted a new pension tier last year to lower payments for new employees.

Attorney General Andrew Cuomo has also launched a probe to crack down on pension padding by soon-to-retire state employees.

Read article here