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Obama to propose $35 billion in federal retirement plan cuts

President Barack Obama is expected to release his 2014 budget proposal on Wednesday, including $35 billion in cuts to federal retirement programs.

By Paula Aven Gladych | Updated on April 08, 2013

President Barack Obama’s budget proposal is expected to include up to $35 billion in cuts to federal retirement programs.

According to The Washington Post, a senior administration official told reporters at a White House media briefing that the president’s plan would include cuts to federal retirement programs. In prior year budget proposals, the White House has said it would like to save $21 billion from 2013 to 2021 by asking federal employees to contribute more to their retirement savings plans and reducing the federal government’s contributions by the same amount.

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