NEW YORK (CBSNewYork/AP) — New York City public school teachers voted Tuesday to approve a new contract with the city.

The United Federation of Teachers announced the vote results Tuesday evening. The union said the contract had passed more than 77 percent of the vote and that around 90,000 votes had been cast.

Negotiators reached a deal May 1 after a nearly five-year labor dispute.

Teachers will receive back pay equivalent to nearly 8 percent of their salaries and a series of additional small raises through 2018 under the nine-year contract.

It offers bonus pay for well-reviewed teachers and aim to save the city $1 billion in health care costs over the length of it.

The deal also revamps the teacher evaluation system.

Teachers also will receive one-time $1,000 ratification payments.

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