The number of six-figure pensions paid to retired New York City education professionals has more than quadrupled since 2008, according to data posted today on SeeThroughNY, the Empire Center’s transparency website.
A total of 3,416 New York City Teachers’ Retirement System retirees last year received pensions of $100,000 or more, up from 3,029 in 2017 and 856 in 2008.
In 2008, the highest pension was $205,108, paid to then-retired Deputy Chancellor Carmen Fariña. Last year, 50 retirees received pensions larger than the 2008 maximum, with 11 retirees exceeding $300,000 and five topping $400,000. The highest pension went to retired CUNY professor Edgar McManus, who last year received $561,754.
The 838 teachers, college instructors, and school administrators who retired in 2017 with at least 30 years of service credit last year received pensions averaging $71,562, an 8 percent increase over 2016 retirees’ first-year pensions.