This act allows the fiduciary of an Employee Stock Ownership Plan (ESOP) to rely on a valuation provided by an independent valuation expert or business appraiser in determining the fair market value of the plan's assets if the assets are not securities for which there is a generally recognized market and the expert or appraiser follows specified methodologies.
In general, ESOPs are defined contribution pension plans where employees accrue shares of their employers' stock in individual accounts as part of their compensation. After separating from employment or retiring, employees receive the cash value of their shares.
Under the act, an independent expert or appraiser must adhere to the methodology established under the Internal Revenue Service Ruling 59-60, which prescribes the factors a professional business appraiser should consider in forming a valuation of the stock for a closely held business.
Recorded votes 1
Newest first. Open one to see how every member voted.
Sep 16, 2026Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 401 - 14 (Roll no. 314). (text: CR H5905)
Sep 16, 2026Considered under suspension of the rules. (consideration: CR H5905-5906)
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
What has been written about this bill: committee reports, cost estimates,
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CRS reports 2
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Cite it 2
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Every title it has carried, official and short, at each stage.
Official Title as Introduced
A bill to amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes.
Short Title(s) as Introduced
Retire through Ownership Act
Short Title(s) as Reported to Senate
Retire through Ownership Act
Short Title(s) as Passed Senate
Retire through Ownership Act
Short Titles from ENR (Enrolled) bill text
Retire through Ownership Act
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
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