My "check engine soon" light on code check states that the 'a'aTCC stuck off.

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The code further reads that: 'a'aTCC commanded on & the EMC detected the slip. 'a'aspeed higher than limits Probable cause 'a'a1.- TCC solenoid failure 'a'a2.- Open or short circuit condition 'a'a3.- Blocked passage in trans. 'a'a4.- Check trans range switch for proper operation. The warning light stays on from the time the engine starts until I turn the ignition off. I would like to know how serious this condition is, & if it is a common occurance with the 2001 Eldorado, or if it would be better & less expensive to replace the transmission. Wavey Davey