S2403Passed Senate

Retire through Ownership Act

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Introduced
In Committee
Passed One Chamber
4
Passed Both
5
Signed into Law
Failed — Did not pass vote
119th
Congress
2025-07-23
Introduced
1
Cosponsors
S
ⓘ
Type

Sponsor

Roger Marshall
Roger Marshall
Republican · KS · Senator
Votes with party: 76.4% (887 recorded votes)
Top industries funding sponsor:
  • Conservative Groups$1,092k

Full profile: /officials/M001198

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

1 cosponsor on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Motion to reconsider laid on the table Agreed to without objection.

2026-09-16

Source: Congress.gov

Committee Activity

Currently in

Previously

Plain-English 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 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Labor and Employment
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Related legislation

Bills by the same sponsor or covering overlapping subjects.