Major League Baseball and the players union agreed Thursday on new rules of deferred compensation funding, the league's contribution to the players' benefit plan and set the minimum salaries through the 2006 season.

Neither side would discuss how negotiations had progressed on the two major issues scheduled to be discussed -- revenue sharing and the luxury tax.

The union's executive board will meet Monday in Chicago, where a strike date could be set.

"Whether or not there is going to be a strike date set is an internal union matter," Major League Baseball's labor lawyer Rob Manfred said in a conference call on Thursday. "It's a decision they are going to have to make. We've made our decision with respect to the use of economic leverage."

Current rules require that teams fund deferred player salaries within a three- or four-year period following the season when the salary was earned. Manfred said that the league agreed that funding of the deferred compensation must now happen sooner, although he would not say the new length of time required.

MLB currently contributes $72 million to the players' benefits plan. Although Manfred did not cite specifics, he did say that the league agreed to make higher annual payments to the fund. The increase will allow 10-year veterans to earn the federal maximum annual pension of $160,000, according to The Associated Press.

The Major League minimum is currently $200,000 and the minor league minimum, for a split major league-minor league contract is $40,000. Both sides agreed to increases in 2003 and 2004. The minimum salaries will then be $300,000 and $50,000, respectively, according to a union source. The official said that the minimum salaries for 2005 and 2006 would be based on the cost of living increase percentage.

The league is currently working on a counterproposal on the union's drug testing plan and other core economic issues, which include revenue sharing and the luxury tax. Manfred would not comment on specifics on the drug testing plan, but said he expects the counterproposal to be addressed Friday.

Under the union drug-testing proposal, players would have to be subjected to one or more random steroid tests next season and in 2004. If more than 5 percent of players tested positive in either year, all players would be subjected to random tests in 2005 and 2006.

Darren Rovell, who covers sports business for ESPN.com, can be reached at darren.rovell@espn.com.