Around ICMA-RC

Restart your RMDs. If you suspended required minimum distributions from a retirement plan in 2009, it’s time to start thinking about 2010 payouts. Payouts are generally required for anyone age 70½ or older by the year-end. Your 2010 minimum payout is based on the balance in your account at the end of 2009. If you don’t take your RMD, it will be distributed automatically near the end of December 2010.

2010 retirement contributions. The maximum 401(k) and 457 contribution limits remain at $16,500 for 2010 ($22,000 if age 50 or older). IRA contribution limits for 2010 remain at $5,000 ($6,000 if age 50 or older). Defined-contribution plan limits remain at $49,000 per participant, plus any catch-up contributions, including employee and employer contributions.

The Vantagepoint Public Employee Memorial Scholarship provides up to $10,000 to children or spouses of public-sector employees who have died in the line of duty. The student must plan to be enrolled full-time in an accredited two- or four-year college, university or vocational school. Visit VantageScholar.org for details. The deadline is March 15.