529 Plan Update
As of late 2014, President Barack Obama signed a bill allowing investors in 529 college savings plans to make changes to their investment holdings twice per year. Before this was signed into law, investors were only allowed one annual exchange in these education plans. This new rule for 529 college savings plans was included in the ABLE Act (Achieving a Better Life Experience), which aims at creating tax-free accounts to save for disability-related expenses. Although you can now make two annual exchanges instead of one, the rules still only allow one tax-free rollover from one 529 plan to another in a 12-month cycle.