Extra

From an article by Jonathan Tam in Thursday's Daily Cal: 

""City officials and workers announced Tuesday at the Berkeley City Council meeting their agreement on a two-tiered pension system and a deferral of a previously agreed upon salary increase, in hopes of ameliorating Berkeley’s current budget deficit. 

"After nearly four months of negotiations, an agreement that would work to decrease the city’s $12.2 million deficit for the next fiscal year was reached with the Service Employees International Union Local 1021. The union represents the city’s maintenance and clerical workers. 

... 

"The result of the reductions in Cost-of-Living Adjustments — which would include this agreement with the union — should garner net savings of $411,000 in the 2012 fiscal year with annual ongoing savings of $389,000, according to the memorandum of the agreement between the city and the union."