U.S. Senate banking chair Johnson to announce retirement

WASHINGTON, March 25 Mon Mar 25, 2013 2:29pm EDT

WASHINGTON, March 25 (Reuters) - U.S. Senate Banking Committee Chairman Tim Johnson, a South Dakota Democrat, does not plan to run for re-election when his current term ends in 2014, sources said on Monday.

Johnson, 66, joined the Senate in 1997 and has been widely expected to retire at the end of his term. He plans to make the announcement on Tuesday, the sources said.

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