Bill

S. 2403 (119th): Retire through Ownership Act

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.

house · Substantive

Rankings updated October 26, 2026, 11:44 AM ET · Votes through September 30, 2026
Exported candidates: 719 | Filings on file, by office: H: 5838 | P: 1467 | S: 1567. These counts include every filing for that office, so they are larger than the ranked list. One person can have more than one filing. Non-voting delegates are left out.

Official source

Summary

Recorded summary

The bill lets an ESOP fiduciary rely on a valuation from an independent valuation expert or business appraiser to set fair market value for employer securities that are not traded on a national securities exchange, provided the expert or appraiser follows specified methodologies. The bill requires adherence to IRS Revenue Ruling 59-60, which sets out factors for valuing closely held business stock. The summary describes the title as the Retire through Ownership Act.

employee_ownershippension_policyretirementtax_administrationunclear

Theological note: The measure concerns the fair and honest valuation of workers' retirement stake in employer stock. Scripture's concern for honest weights, just wages, and faithful stewardship of others' assets makes accurate valuation and sound fiduciary conduct relevant. The bill itself appears to be a prudential administrative provision rather than a direct advance or restraint of a named moral harm.

Scoring

How this bill is scored

Debt and war Cloture and Tier 1 Procedural votes Scoring mechanics

Roll

Recorded votes

Roll 314 · 16-Sep-2026 7:05 PM · On Motion to Suspend the Rules and Pass · Passed

Yea 401 · Nay 14 · Other 18

Yea

Nay

Other

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