A tentative agreement was reached at 3:45 pm on Tuesday afternoon. It is a three year agreement. There will be an across the board increase of 3% in the first year,  3.5 % in the second year, and 4 % with an additional .25% increase in pension in the third year. A summary of all contract changes is being worked on and  will be distributed as soon as possible. Shortly after that distribution there will be a ratification meeting.  The time and  place will be announced.

*Corrections from J. Halpern:
1.  The additional .25% to TIAA-CREF is also added as of SEPT 1 2001. This
is a three year agreement .
2.  Across the board increases should read
3%  SEPT 1 1999
3.5% Sept 1 2000
4%  Sept 1   2001  (not 2002)