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U.S. Sen. Richard Burr, along with Sen. Tom Coburn, has introduced the Public-Private Employee Retirement Act of 2011 to address long-term liabilities facing the federal government. The legislation would end the defined benefit pension portion of the Federal Employee Retirement System (FERS) for new federal government hires — including members of Congress — starting in 2013. It would not affect the Thrift Savings Plan, which will continue to be matched up to 5 percent for new and existing workers.

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