Loophole allows retired NYPD Chief Terence Monahan to make $430K a year

The NYPD’s former highest-ranking uniformed officer is cashing in with his new gig at City Hall — thanks to a little-known legal loophole that allows him to collect both a pension and a taxpayer-funded salary, The Post has learned.

Retired Chief of Department Terence Monahan started collecting his $188,280 annual pension on March 28 while also earning a $242,592 annual salary as Mayor de Blasio’s new senior advisor, according to documents obtained through the Freedom of Information Law. Retired public employees who are under the age of 65 and are collecting a pension are required to file paperwork — known as a 211 waiver — making the case for why they are uniquely qualified to collect an additional public salary.