How to Interpret a $\tau$ Excess at LEP2 within the MSSM

Neutralino and tau slepton pair production can naturally produce an excess of tau lepton pairs at the current LEP collider energies. We describe the constraints this has on the values of the mass parameters in the softly broken Supersymmetric Lagrangian, and consider the consequences for superpartner production at LEP and at the Fermilab Tevatron collider. The pair production of the LSP and a heavier neutralino, followed by a 2-body decay to a tau slepton and tau lepton, is consistent with the present LEP data, predicts a chargino mass below 125 GeV, and provides an interesting Cold Dark Matter component, with a relic matter density of .1-.2.