The City and DC37 have agreed to a new 44 month (3.67 years) contract that includes a 7.4% raise for the length of the contract. That equals to an equivalent of a 2% annual raise (inflation is estimated to be 3% during this time period). The annual raise is about what I expected. However, it appears the Municipal unions will be giving the City more health care "givebacks" by saving the City $1.5 billion dollars.
The 44 month contract breaks down as follows:
Year........................Raise
1................................2%
2................................2.25%
3................................3%
This contract with DC37, the largest municipal union means that a "pattern" has been established and we can expect a similar raise for the UFT.
Unlike the UFT, DC37 is getting family leave , not parental leave like the UFT obtained. That is similar to what UUP received and didn't have to give back 73 days to achieve their 2% annual raises.
You can read the New York Daily News and New York Post articles Here and Here.