HR 5169
Advanced toward a vote
Lets fiduciaries of employee stock ownership plans rely in good faith on a valuation of closely held stock by an independent expert or appraiser who followed IRS Revenue Ruling 59-60 principles.
Official title: Retire through Ownership Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
08-SEP-2025
Referred
08-SEP-2025
Approved by committee
17-SEP-2025
Reported
14-JAN-2026
On the calendar
14-JAN-2026
- Adds a clause to the definition of adequate consideration in ERISA section 3(18) allowing an ESOP fiduciary to rely in good faith on an independent valuation that follows Revenue Ruling 59-60 in determining fair market value.
- States that the new clause does not expand the Secretary's regulatory authority over adequate consideration beyond what it was on the day before enactment, and does not modify a fiduciary's obligations under ERISA section 404.
- Allows the Secretary to issue regulations interpreting the new clause under the notice-and-comment rules of section 553 of title 5, United States Code.
- Applies to valuation determinations made on or after the date of enactment.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (08-SEP-2025); the text has changed since (Reported in House, 14-JAN-2026).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govLabor and Employment
■ 3 R■ 1 D
3 Republicans
1 Democrat