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| Tue Oct 11, 2016 | 2:12am EDT Chicago teachers reached a tentative contract deal, averting strike FILE PHOTO: Chicago Teachers Union members picket outside of the Chicago Public School headquarters on the fourth day of their strike in Chicago, Illinois, U.S. September 13, 2012. REUTERS/John Gress/File Photo By Renita Young | CHICAGO CHICAGO Chicago's public school system and its teachers union reached a tentative contract deal late Monday, averting a strike scheduled to begin on Tuesday, union officials said. The agreement, which the Chicago Teachers Union (CTU) will take to its 28,000 members, prevents the third work stoppage in five years for teachers in the third largest กระเป๋า h&m thailand public school system in the United States. Teachers, who were set to go on strike at midnight on Monday if an agreement had not been reached, have been working without a contract for more than a year. The contract that ended the 2012 strike expired on June 30, 2015. "We ended up with something thats good for kids, its good for paraprofessionals, its good for teachers, for the community," said Karen Lewis, president of the Chicago Teachers Union. The school system is grappling with escalating pension payments that will jump to $720.2 million this fiscal year from $676 million in fiscal 2016, as well as credit ratings that have fallen into the junk level, drained reserves, and debt dependency. Currently teachers contribute 2 percent to their pension, with the school board chipping in an additional 7 percent. Under the tentative agreement, new teacher hires will not get the current 7 percent "pension pickup." Lewis said new hires will get a salary adjustment to compensate for the pension change. The tentative four-year agreement also includes provisions regarding classroom sizes, layoff and teacher recalls, she said.