Rochester, MN (KROC-AM News) - The Rochester School Board voted Tuesday evening to ratify a new two-year contract for the school district’s over 1300 teachers. The members of the Rochester Education Associated voted last week to ratify the agreement, approving the new employment contract by a 2-1 margin.

The deal includes a 3-percent cost-of-living increase for the first year of the contract, which runs from July 1st of last year through the end of next month, although it will only be retroactive to January 1st of this year. The second year of the agreement includes a 2.5-percent pay increase.

Most teachers will also see the maximum matching contribution to a teacher’s 403B retirement savings accounts increase from $500 to $1000 annually beginning in July.

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