The announced Thursday afternoon it had reached tentative contract agreements with the Police, Fire and AFSCME unions.
“I thank all four bargaining units for being real partners with the city and enabling us to remain competitive while also doing what’s needed to be fiscally responsible," Mayor Josh Cohen said in a statement to the media. "These agreements achieve our goal of strengthening the city’s financial position and reducing our unfunded long-term liabilities."
Here's a look at some of the changes to the contracts for the International Association of Firefighters Local 1926, Police officers represented by United Food and Commercial Workers Local 400, AFSCME Clerical and Technical Employees Local 3162 and the Trades, Maintenance and Labor Force Employees Local 3406.
Under the new agreements, all new hires to the Police and Fire Departments will be required to pay 8 percent into the pension fund.
New hires also will be required to have 25 years of service before retiring -- an increase from the current requirement of 20 years.
Health care premiums will be maintained at the current split of 80/20.
The city will save an estimated $175,000 because all four unions agreed to forgo a cost-of-living increase in the coming fiscal year, and they agreed to increase their co-pays for doctor visits and prescription drugs.
Police and fire employees will increase contributions to their pension fund to 5.5 percent in fiscal year 2013, which begins July 1, and to 6.5 percent in FY 2014.
The city will increase its contribution to the police and fire pension fund from 4 percent to 8.5 percent in FY 2013 -- at an increased budget cost of $834,000.
These will be eliminated for all four unions.
The contracts now go to the . The Council is expected to approve them at its meeting June 4.