Bill > HR5169

This bill, titled the "Retire through Ownership Act," amends the Employee Retirement Income Security Act of 1974 (ERISA) to clarify the definition of "adequate consideration" when employee stock ownership plans (ESOPs) acquire closely held stock. Specifically, it allows fiduciaries of ESOPs to rely in good faith on valuations provided by independent experts or appraisers, as long as those experts used established principles and methodologies from IRS Revenue Ruling 59-60 in determining the fair market value of the stock. This provision aims to provide clearer guidance for ESOPs when valuing private company stock, a common asset held by these retirement plans, without expanding the government's regulatory authority or altering a fiduciary's fundamental duties under ERISA.

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https://www.congress.gov/bill/119th-congress/house-bill/5169/all-info