Federal agencies that normally lose, and replace, 1,000 employes a day would go on a strict hiring diet next month under an option that the Senate may adopt in its down-to-the-wire search for a pre-Christmas deficit reduction promise to the stock market.

The reduced hiring plan, drafted by Sen. Ted Stevens (R-Alaska), would limit most agencies to replacing only one of every three workers they lose because of resignation, retirement or death. Such a limited hiring freeze, if approved by Congress, would last through next October. Some agencies, such as the Internal Revenue Service, would be exempt. But most would be required to slim down to reduce payroll costs.

Stevens' proposal is designed to meet spending cuts agreed on at a White House- congressional summit. The cuts would be in lieu of even tougher across-the-board reductions that would go into effect if Congress and the president don't approve a specific spending plan soon.

The hiring reduction is the latest in a number of proposals to cut federal personnel spending by $1.7 billion this year and in fiscal 1989.

Other suggestions for cuts dealt with freezing or delaying pay raises, reducing cost-of-living adjustments for retirees or cutting lump-sum federal pension payments. Events

The Association of Hispanic Federal Executives will install its new officers at a luncheon today at the National Lawyers Club. Rep. Esteban Torres (D-Calif.) is the keynote speaker. New officers are Gilbert Sandate, Equal Employment Opportunity Commission; Alex De La Garza, State; Albert Macias, Education; and Edward Gautier, Energy Department.People

Labor Department's Donald Smyth is moving over to handle Washington public information chores for the International Labor Organization. He's been with Labor for 23 years and was deputy director of its press office, which is considered one of Uncle Sam's best.

Vincent Crivella has taken over as counsel for General Services Administration's National Capital Region. He succeeds Renn C. Fowler, who is now deputy associate general counsel in GSA's central office. Health Insurance Deadline

Tomorrow is the last day federal and postal workers can change health insurance plans. Workers who miss the deadline will continue to be covered by their current health plan for 1988.

Retirees and survivor annuitants who still have not received health insurance information from the Office of Personnel Management don't have to worry about the deadline. If you have requested information from OPM, you will get an automatic 30-day extension -- from the date OPM mails the material to you -- before you must make a health plan decision.

Retirees who haven't received any health plan information from OPM should get in touch with the agency by tomorrow. The address: OPM, P.O. Box 52244, Iowa City, Iowa, 52244. Be sure to include your civil service retirement claim number.

If you have already requested information from OPM, or don't plan to change health plans, you don't need to write OPM.