The library system may get a dedicated funding source — one that taxes city and county residents equally — but it will leave city control as a result.
The officers' bargaining unit of the Fraternal Order of Police has agreed to terms they will now take to the rank and file for ratification.
In exchange for a reduction in pension benefits, union employees will see a 10% wage increase over three years and a DROP extension.
The mayor wrote an open letter saying his plan to solve the pension crisis is coming soon.
Two of the city's pension fund boards were advised by their attorneys yesterday that a settlement had been reached with Merrill Lynch, the terms of which are confidential.