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Budget deal targets federal pensions

Most federal civilian employees hired beginning in January will contribute 4.4 percent of their pay to their pension plans under the House-passed budget bill the Senate is expected to approve this week.

By Alan Fram | Updated on December 16, 2013

WASHINGTON (AP) — Distinctly unpopular among voters and a scant presence in most congressional districts, federal workers have become an easy target in the hunt for budget savings.

Their retirement programs are notably generous compared to the norm in private industry. But for federal workers hired after 2012, the pension program is turning less generous.

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