S. 2403: Retire through Ownership Act

119th Congress · introduced 2025-07-23 · Labor and Employment · Latest: Became Public Law No: 119-124.

federal

Official title

Retire through Ownership Act

Plain summary

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 assets if the assets are not securities for which there is a generally recognized market 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.

Congressional Research Service summary (Passed Senate), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

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A “Nay” vote

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What does this mean? (plain words)

Official text

Retire through Ownership Act

Source: Congressional Research Service summary (Passed Senate)

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Officials and money

Sponsor: Sen. Marshall, Roger [R-KS] · 1 cosponsors

Money: No cost estimate published yet. No linked contracts or vendors yet.

Recorded votes

House roll call 314 (2026): On Motion to Suspend the Rules and Pass, S 2403 (2026-09-16): Passed

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Passed Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s2403.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>

Record fed-us-cong119-s2403 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills