Rutgers University President Richard McCormick has officially filed his retirement papers. McCormick held a press conference on Tuesday to announce his leaving the position of president. McCormick will retain a high paying teaching job with the school. He will now make $335,000 a year to continue being a professor at Rutgers, down from his $550,000 salary as president. McCormick has guided the school as president for the last 10 years.
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