Revisions to the health insurance plan include increased deductibles, new preventative care services, and contributions to the premium payments on the part of the musicians. The pension benefit is unchanged at $55,000 per year.
The terms of the contract also allow for the radio broadcast of 24 programs this season, and 36 programs next season. The orchestra will resume its national weekly broadcasts, and initiate international broadcasting.
The orchestra's previous contract expired on August 29, but musicians and management agreed on a two-month extension of the contract while talks, which began in June, were taking place.
After three years of posting operating deficits, the orchestra is in the first year of a financial-recovery plan.
Of the four orchestras facing high-profile contract renewals this year, only the Philadelphia Orchestra remains in negotiations. Agreements have been reached in Chicago and Cincinnati, and for the New York Philharmonic.