Posted: Jun 7, 2012 1:37 PM by Katherine Worsham, KSBY News
Updated: Jun 8, 2012 8:18 AM
The City of San Luis Obispo and an employee union have reached a tentative agreement on a new contract.
Contract talks had stalled back in February.
The agreement includes an overall 6.8% reduction in compensation, shifts a portion of the cost of employee pensions to the employee, and creates a two-tier pension system for new workers.
If agreed upon by union members and the City Council, the new contract is expected to save the city more than $900,000 over three years.
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