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US Congress · S. 2403 · Passed the Senate

Retire through Ownership Act

Introduced
Moved
Reached a final decision
Introduced 2025-07-23
Derived from the official record below.

Officially: “Retire through Ownership Act Read the full text

Labor and Employment

What it does

The bill changes federal retirement law to say that a fiduciary of an employee stock ownership plan can rely in good faith on the valuation methods in Internal Revenue Service Revenue Ruling 59-60 when figuring out the fair market value of closely held company stock that is not publicly traded. That fair market value determination is used to decide whether the plan paid adequate consideration for the stock, as required under federal pension law. This rule applies to valuations made on or after the date the bill is enacted.
Written by AI from the complete official bill text and independently fact-checked against it. Not legal advice.

Read it in plain language

AI plain language2 sections
Written by AI from the complete official bill text and independently fact-checked against it. Not legal advice.
1Short title

This section would let the Act be called the Retire through Ownership Act.

2Amending adequate consideration definition

This section would amend the definition of "adequate consideration" in section 3(18) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(18)). It would renumber the definition's existing parts: the current clauses (i) and (ii) would become subclauses (I) and (II), the current subparagraphs (A) and (B) would become clauses (i) and (ii), and the definition's opening text would be labeled as subparagraph (A). These renumbering changes would not change what the existing definition says. The section would then add a new subparagraph (B) providing that, for purposes of clause (ii), a fiduciary of an employee stock ownership plan, as that kind of plan is defined in section 407(d)(6) of the same Act, may make a good faith reliance on the principles and methodologies of Internal Revenue Service Revenue Ruling 59-60, as that ruling is in effect on the date of enactment of the ERISA Adequate Consideration Act of 2025, when determining the fair market value of the asset described in that clause. The amendments made by this section would apply to fair-market-value determinations under the new subparagraph (B) that are made on or after the date this Act is enacted.

AI plain languageRead the whole bill in plain language, 2 sections

Where it is

Introduced · 2025-07-23

In the Senate.

Passed the Senate · 2025-10-09
House floor vote · next · the next step

Official documents

The on-site text is shown verbatim from the GovInfo publication, captured 2026-07-23. The same version at GovInfo.

The numbers

29%
of bills that passed one chamber became law in the 118th Congress, 2023 to 2024 (n=939)
2
sponsors, out of 51 needed to pass

Who is lobbying on this

AMERICAN BENEFITS COUNCILvia DAVIS & HARMAN LLP
3 filings
AFL-CIOvia AFL-CIO
1 filing
AMERICAN BENEFITS COUNCILvia AMERICAN BENEFITS COUNCIL
1 filing
From 5 filings in federal lobbying disclosures (LDA), via lda.gov, naming this bill (2025 to 2026). Filings are self-reported by lobbying firms and show who is paid to influence this bill. They do not say which side, or whether it worked.
Every fact on this page links to its source, starting with the official bill record. Last action: Held at the desk. (2025-10-17).