Hedge Fund RenTech Created the Ultimate, Tax-Free IRA Account for Employees
- Employee retirement assets surge following 2012 change
- IRAs a growing share of $10 billion computer-driven cash cow
Jim Simons
Photographer: Brenden Smialowski/AFP via Getty Images
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Renaissance Technologies, the giant hedge fund founded by billionaire Jim Simons, looks like it has created the premier, tax-free retirement account for its employees.
A deft maneuver back in 2012 enabled employees to invest in RenTech’s storied Medallion Fund via individual retirement accounts, or IRAs, which provide tax benefits for millions of ordinary Americans savers who are putting money aside for their golden years.