Retire through Ownership Act

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

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.