A five-year agreement has been reached for British Columbia's public school teachers, Finance Minister Carole Taylor announced today. The 16 per cent compensation package extends to 2011 and includes a 12 per cent general wage increase, two per cent LTD allowance due to the fact the British Columbia Teachers' Federation (BCTF) funds its own long-term disability program, 0.5 per cent to encourage teachers to join rural and remote school districts and 1.5 per cent to continue the standardization of the salary grids started by Vince Ready. Upon ratification, teachers will receive $3,700 in an early signing incentive for finalizing the new contract before the expiry of the existing one and up to $1,000 in 2010 because of the length of the agreement.
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