529 Plan Enhancements for 2016February 24, 2016 by adminRecent enhancement to 529 education savings plans, like the inclusion of computer technology and equipment as qualified expenses, and the ability to recontribute eligible, refunded expenses without penalty, make these plans more practical than ever before in helping to pay for and offset higher education expenses. Yet, obtaining the greatest benefit from your plan requires periodically reviewing your plan investment options, asset allocation, and contribution levels. The following steps can help you and your beneficiaries get the most out of your 529 savings plan:Review your investment options regularly. Check your plan’s website for a current list of available 529 plan options and investment performance information.Make sure your current asset allocation still reflects your investment time horizon and tolerance for risk. Per IRS regulations, you can make changes to your allocations twice during the year if desired. And, at any time and as often as you want, you can redirect future contributions to other 529 investment options.Unless you’re already contributing the maximum amount allowed by your plan, consider increasing your contribution level. Whether it’s a little or a lot, every bit can help you move closer to your goal.If you have questions about your current education savings strategy, or need help putting one in place, please feel free to contact us at (714) 634-8051.