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Retire through Ownership Act
Legislative Progress
Momentum (last 30 days)
4
score
4 actions · 0 new cosponsors · 0 votes
Speed vs cohort
99pct
449d open
vs 5,674 other S bills in the 119th — cohort avg 32d
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.
Yes
401
No
14
Present
0
Not Voting
18
Party Breakdown
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (3)
2026 · third_quarter · Small Business
S. 2403 - Discussed small business lending, access to capital, and succession planning issues.
Client expense: $1,460,000 · Firm income: Not reported
Became Public Law No: 119-124.
Became Public Law No: 119-124.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 401 - 14 (Roll no. 314). (text: CR H5905)
HousePassed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 401 - 14 (Roll no. 314). (text: CR H5905)
HouseConsidered as unfinished business. (consideration: CR H5960)
Bills with similar content found using semantic analysis.
Sources: Congress.gov · House Clerk roll-call votes
| #314 | house | On Motion to Suspend the Rules and Pass | Passed | September 16, 2026 |
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · first_quarter · Retirement
ERISA preemption Oversight of EBSA programs - EBSA Investigations Transparency Act (2869); Transparency for Secret Litigation Agreements (HR 2958) Alternative investments in qualified retirement plans Pooled Employer Plans Collective investment trusts (CITs) and insurance company separate accounts HR 1013 and HR 3383 ERISA Litigation Reform Act (HR 6084) Limited Scope Audit Prohibited Transaction Exemption (PTE) 77-4 INSIGHT Act (Sen. Banks) Pension Benefit Guaranty Corporation single-employer premiums Market Based Cash Balance Plans Age of participation in retirement plans reduced from 21 to 18 (HR 4718 / S. 1707) Permitting optional re-enrollment, S. 1831 Defined Benefit Pension Plans (DBs), retiree health accounts, IRC sec. 401(h) limited access to surplus, S. 2003 Child Saving Accounts (IRC sec. 530A, Trump Accounts) Retire Through Ownership Act, HR 5160 / S. 2403
Client expense: $280,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2026 · first_quarter · Retirement
ERISA preemption Oversight of EBSA programs - EBSA Investigations Transparency Act (2869); Transparency for Secret Litigation Agreements (HR 2958) Alternative investments in qualified retirement plans Pooled Employer Plans Collective investment trusts (CITs) and insurance company separate accounts HR 1013 and HR 3383 ERISA Litigation Reform Act (HR 6084) Limited Scope Audit Prohibited Transaction Exemption (PTE) 77-4 INSIGHT Act (Sen. Banks) Pension Benefit Guaranty Corporation single-employer premiums Market Based Cash Balance Plans Age of participation in retirement plans reduced from 21 to 18 (HR 4718 / S. 1707) Permitting optional re-enrollment, S. 1831 Defined Benefit Pension Plans (DBs), retiree health accounts, IRC sec. 401(h) limited access to surplus, S. 2003 Child Saving Accounts (IRC sec. 530A, Trump Accounts) Retire Through Ownership Act, HR 5160 / S. 2403
Client expense: $230,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2025 · fourth_quarter · Retirement
ERISA Preemption Oversight of EBSA programs Alternative investments in qualified retirement plans Standard of review for fiduciary decisions Pooled Employer Plans Collective investment trusts (CITs) and insurance company separate accounts for use by 403(b) plans Age of required participation in retirement plans reduced from 21 to 18 Permitting automatic re-enrollment of unenrolled participants EBSA Investigations Transparency Act (HR 2869) Retire Through Ownership Act (HR 5169 / S 2403) Transparency for Secret Litigation Agreements (HR 2958) ERISA Litigation Reform Act (HR 6084) Pleading standards legislative proposal regarding standards applicable to ERISA, deference to fiduciary decisions Defined benefit pension plans and defined contribution plans; pension plan de-risking, retiree health accounts Pooled Employer Plans (PEPs) Market-based cash balance plans Pension Risk Transfers Roth Catch-up contributions Trump (child saving) Accounts Retirement plan limits for 2026 and segment rates
Client expense: $210,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of, White House Office
S 1582 GENIUS Act HR 3633 CLARITY Act H.R. 2988, the Protecting Prudent Investment of Retirement Savings Act S. 2217-The Independent Retirement Fairness Act S. 2403- Retire Through Ownership Act S. 1727- Employee Ownership Fairness Act of 2025 S.1728-Employees Ownership Representation Act of 2025 Americas Act
Client expense: $860,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on S. 2403.
Considered under suspension of the rules. (consideration: CR H5905-5906)
Mr. Walberg moved to suspend the rules and pass the bill.
Held at the desk.
Received in the House.
Message on Senate action sent to the House.
Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.
Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced in Senate
| July 23, 2025 |
| Enrolled Bill | -- |