Government employes who wish to put money into IRA (individual retirement accounts) can have it done through payroll deduction.

Many feds already use payroll deduction for union dues, transfers to banks, savings organizations and credit unions. Some agencies make the deductions for parking fees, life insurance premiums, dues to professional organizations and the like.

U.S. aides generally may have two payroll deduction transactions without cost (although fees are sometimes charged banks or receiving institutions for the transactions). If you have more than two such deductions, agencies may--although not all do--charge you anywhere from 12 cents to 27 cents a transaction.

Area banks, credit unions, savings and loan organizations and investment groups would love to get a steady infusion of money--which they can invest or lend out--from the big, generally well-heeled federal employe market here, where there are at least 360,000 civil servants and the average white-collar federal salary is $26,000.

If you want to begin payroll deductions for an IRA-type account, savings or whatever, get a Form 1198 from your payroll office. On the form spell out what institution is to get the deduction, how much it is to be, etc.

Some agencies are aleady taking out IRA deductions for workers, although officials estimate only a small percentage of the nation's 2.6 million federal workers are investing in IRAs via payroll deduction.

The Office of Personnel Management is currently working on guidelines that will tell agencies about the deduction program. Some agencies will permit you to start the IRA withholding now. Others will probably say they can't do anything until they get the official word from OPM and the Treasury. That word is coming, and Washington area banks, savings institutions and credit unions are salivating.