After more than a year of haggling, a contract has been reached between the City of Chicago and the Chicago Police Sergeants’ Association.
The agreement was announced Tuesday by Mayor Rahm Emanuel and the president of the Sergeant's Association, James Ade.
The four-year contract, which must still be ratified by union members, phases in a 9 percent pay increase, maintains eligibility for retiree health care at age 55 but also requires retirees to pay 2 percent of their retirement annuity toward their benefit.
The agreement also puts an 18-month cap on the length of misconduct investigations.
According to a news release, city officials hope the agreement can serve as a framework to fix the city's pension crisis.
