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S. 2403119th CongressPassed one chamberLatest action Oct 17, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The Retire through Ownership Act lets ESOP fiduciaries rely on IRS Revenue Ruling 59-60 to value privately held company stock.
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This bill amends ERISA to clarify how fiduciaries can value closely held stock in Employee Stock Ownership Plans. It allows them to rely in good faith on IRS Revenue Ruling 59-60, an existing tax valuation standard, when determining fair market value. The change would apply to valuations made after enactment.
It affects employees in ESOPs at privately held companies, plus business owners, plan administrators, and fiduciaries who manage these plans. Attorneys and financial professionals advising on ESOP transactions could also be affected.
The change could reduce legal uncertainty and disputes over whether fiduciaries paid a fair price for stock on behalf of employees. It gives plan managers a clearer standard to point to when defending valuation decisions.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it passed the Senate, and the official record shows nothing new since. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Held at the desk.