A tentative contract agreement has been struck, five days after New York City was ground to a halt in a transit strike.  The executive board of the Transport Workers Union (TWU) Local 100 and the Metropolitan Transportation Agency (MTA) had been negotiating under a media blackout, but terms of the agreement have started to come to light: A 3% increase in salary the first year, 4% increase the second year, and a 3.5% increase in their third year.  There will be no changes in the employees' pension plan and the retirement age remains at 55 in exchange for employees contribution of 1.5% of their paycheck.
The new contract still must be approved by the state-run authority's board, whose next regular meeting is on January 25, 2006.  There is no word yet if a special meeting will be called. 
The Union's workers will vote by mail, a process which may take weeks to complete.
Union members probably will ratify the contract because it would be "near suicidal" to strike again, says Gary Chaison, professor of labour relations at Clark University in Worcester, Massachusetts.
Thirty-four thousand Transport Workers Union members walked off the job on December 20, when negotiations broke down over disagreements concerning pensions, health benefits, and pay.  The strike, which lasted three days, affected an estimated 7 million commuters daily.

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NYC Transit asks members to ratify new contracts