Tuesday, February 10, 2009

Retired, Rehired: Many Collect Connecticut Pensions And Paychecks

The Hartford Courant reports:
When John Yanouzas retired from UConn in 1997 with a nearly six-figure pension, the business school professor vowed not to become a "couch potato."

So the man who once told The New York Times he needed to work two jobs or risk having to "knock out vacations, [a] second home, other luxuries," kept on teaching under a law that allows retirees in rare cases to work part time for the state without jeopardizing their pensions.

Eleven years later, the 80-year-old Yanouzas is still at the blackboard, teaching one class a semester for about $26,000 a year, while still collecting his $134,000 annual pension.

Throughout the state university system, hundreds of professors have similar deals, and across all agencies, more than 1,000 retirees collected both a pension and a paycheck from the state in 2008, despite a law designed to limit the practice.