RJ and Makay

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California has chosen TIAA-CREF to manage its college savings plan that contains about $4 billion in assets. The ScholarShare Investment Board that oversees the state’s 529 program voted this past Monday to award the investment management firm a five-year contract. TIAA-CREF will replace current manager Fidelity Investments, whose contract expires in November.

It's tax time again, the time of year a lot of us feel more than a little resentment about the chunk of our earnings Uncle Sam grabs for America's coffers. Of course, as with anything else, ranging attitudes about taxes is all a matter of perspective. Perspectives differ, especially between the half of the country paying income taxes and the half that virtually don’t.

According to the latest estimates from the Organization for Economic Cooperation and Development (OECD), a Paris consortium that tracks financial conditions in 34 nations, 24% of the U.S. economy as measured by gross domestic product (GDP) goes to taxes collected by all levels of government.