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SENATE 2403119th CongressHeld at the desk.

Retire through Ownership Act

Last Action
10/17/2025

Actions

  • 2025-10-17Held at the desk.
  • 2025-10-17Received in the House.
  • 2025-10-16Message on Senate action sent to the House.
  • 2025-10-09Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)
  • 2025-10-09Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
  • 2025-09-11Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.
  • 2025-09-11Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
  • 2025-09-11Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
  • 2025-07-30Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
  • 2025-07-23Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
  • 2025-07-23Introduced in Senate

CRS Summary

As of 2025-10-09 (55)

Retire through Ownership Act

This bill 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 securities if the securities are not traded on a national securities exchange (i.e., not publicly traded) 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 bill, 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. 

Cosponsors (1)

  • Timothy Kaine (D-VA)

Subjects

  • Employee benefits and pensions
  • Financial services and investments
  • Securities
Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.