Retire through Ownership Act

Bill: 119-hr-5169
Sponsor: full_name: Rep. Allen, Rick W. [R-GA-12]
Introduced: 2025-09-08
Policy area: Labor and Employment
Subjects: Employee benefits and pensions

Financial services and investments

Securities
Latest action: action_date: 2025-09-17
text: Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 0.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 5169 IN THE HOUSE OF REPRESENTATIVES September 8, 2025 Mr. Allen introduced the following bill; which was referred to the Committee on Education and Workforce A BILL To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes.

1. Short title This Act may be cited as the Retire through Ownership Act . 2. Amending adequate consideration definition (a) In General Section 3(18) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(18) ) is amended— (1) by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively; (2) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively; (3) by inserting (A) before The term ; and (4) by adding at the end the following: (B) For purposes of clause (ii) of subparagraph (A), a fiduciary of an employee stock ownership plan (as defined in section 407(d)(6)) may in good faith rely upon a valuation provided by an independent valuation or business appraiser if such expert or appraiser relied upon the principles and methodologies set forth in Internal Revenue Service Revenue Ruling 59–60 (as amplified, clarified, distinguished, or modified from time to time) in determining the fair market value of the asset. . (b) Effective Date The amendments made by subsection (a) shall apply with respect to determinations described in section 3(18)(B) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(18)(B) ) (as added by such subsection) that are made on or after the date of enactment of this Act.