S. 2403Passed one chamberJobs & the economy
Bill would let ESOP managers rely on IRS rule to value private stock
Data as of July 14, 2026
The Retire through Ownership Act lets ESOP fiduciaries rely on IRS Revenue Ruling 59-60 to value privately held company stock.40-second read · 4 questions answered below
Decoded
What does this do?
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.
Who does it affect?
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.
Why does it matter?
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.
Where does it stand?
- Introduced
- Senate committee
- Senate vote
- House — You are here
- President's desk
Right now: it passed the Senate and now goes to the House. If the House changes it, it goes back to the Senate before reaching the President.
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Official title
Retire through Ownership Act
- Introduced:
- July 23, 2025
- Latest action:
- October 17, 2025
Held at the desk.
Read the official bill on Congress.govMake the call
Three steps: where you stand, your script, the call.