Chicago City Wire

Chicago City Wire

Thursday, November 14, 2019

Former teacher Lumpkin Rawls paid in $134K to teachers' pension fund, could collect $2.52M in retirement


By Local Labs News Service | Aug 1, 2017

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Former teacher Belinda Lumpkin Rawls, who retired in July 2017, saved $133,918 toward a pension over 25 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Lumpkin Rawls would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lumpkin Rawls received $52,879 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lumpkin Rawls will have already received $163,443 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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