Federal agencies yesterday were directed to refund millions of dollars in excess pension program payments to 450,000 employes, including 60,000 here.

The directive from the Office of Personnel Management orders that the refunds of pension fund contributions collected at the rate of $1.7 million a day since May 1, be given to civil servants whose retirement contributions were increased last month by 5.7 percent. Those employes were all hired in the past 2 1/2 years. The 5.7 percent deduction also was ordered stopped.

Refunds in some cases could run into hundreds of dollars. The exact amount will depend on the employes' salaries and how long it takes their agencies to reprogram pension deductions. The newer workers are being shifted to a new pension program that requires smaller contributions. President Reagan signed the new pension system into law Friday.

Under the new system, employes will continue to make full contributions to the Social Security system, but will contribute only 1.3 percent of their salaries toward a modified version of a civil service plan designed for them.

In addition, the new system -- which is mandatory for workers hired after 1983 -- will offer employes the option of putting up to 10 percent of their salaries into a tax-deferred investment plan. The government will contribute an additional amount of up to 5 percent.

OPM's action yesterday was in response to the new retirement bill, which restores pension contributions of the relatively new hires to pre-May levels. Between 1984 and last month, employes contributed 1.3 percent of their salaries into the federal civil service pension plan, with the government making up the difference of 5.7 percent.

But when Congress and the White House failed to meet a May 1 deadline for agreement on a new pension program, those new employes had to contribute the same amount to the civil service retirement program as longtime workers.

OPM officials said they expect that some agencies will be able to make the lump-sum refunds, of money that has already been taxed, this month. Most other employes due the refunds will get them in July. Meetings

The Professional Managers Association will hold its awards luncheon Friday at the Washington Hilton Hotel. For reservations call De Burton at 522-3638.

Former Defense Department official Lawrence J. Korb will speak at the June 19 luncheon of the Federal Executive Institute Alumni Association at the Fort McNair Officers Club. Call 527-3110.

Michael Talbott, costar of NBC's "Miami Vice" show, will talk about law enforcement at a family picnic June 21 sponsored by the Association of Federal Investigators. It will be held at the Thomas Law House on Water Avenue SW. For details call 466-7288. FAA Hiring

The House subcommittee on human resources will hold a hearing tomorrow on a bill that would force the Federal Aviation Administration to rehire up to 1,000 of the 11,000 air traffic controllers fired because of the 1981 strike. Subcommittee Chairman Gary Ackerman (D-N.Y.) says the FAA could improve air safety and end its "chronic staffing problem" by returning already trained controllers to the job. Job Mart

The Energy Department wants a Grade 13 supply management representative. Call Gracie Reese at 252-8565.