Budget Deal Asks New Feds to Contribute More to Pensions

New federal employees and military retirees would have to contribute more to their pensions under the bipartisan deal the congressional budget conference committee unveiled Tuesday evening.

Federal workers hired on or after Jan. 1, 2014, with less than five years of service would have to pay 4.4 percent toward their defined retirement benefit — 1.3 percent more than the current 3.1 percent that employees hired after 2012 contribute.

Military retirees under the age of 62 would see a decrease…

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