ANCHORAGE (AP) -- Anchorage's school district and its principal's union have settled a three-year contract that would give the principals a raise of more than 4 percent in the first year.
The district won the right to re-negotiate pay during the second and third years if it doesn't have enough money to continue the raises.
The contract was ratified by the principals this week with 87 percent of those voting in favor.
Each of the 120 principals will get an average raise of about $3,000. The average principal makes about $70,000, according to Lee Wilson, the school district's labor chief.
The district will increase its contribution to health insurance from $380 per month per employee to $427.50. That's the same amount the district is offering teachers.
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