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The contract, according to Superintendent of Schools Bryan Luizzi, increases teacher salaries an average of 3.4 percent yearly, reported the NCAdvertiser.com.
The Board of Education had proposed a 3 percent increase per year while the teacher's union proposed 3.6 percent annual increase, the story said.
In addition to pay increases, under the new contract, all teachers will shift from a preferred provider insurance plan to a high-deductible savings account, the story said.
The contract still has to be approved by the city council, the story said.
Click here to read the full story.
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