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S. 2403

Retire through Ownership Act

📅 Oct 15, 2026
Summary:
• Amends the Employee Retirement Income Security Act of 1974 to modify the definition of "adequate consideration" for employee stock ownership plans
• Allows fiduciaries of employee stock ownership plans to rely in good faith on valuations from independent experts using IRS Revenue Ruling 59-60 principles for determining fair market value
• Specifies that the changes do not expand the Secretary's regulatory authority beyond what existed before enactment or modify fiduciary obligations under section 404
Additional Details:
• Makes technical amendments to section 3(18) by redesignating existing clauses and subparagraphs and adding new subparagraph (B)
• Establishes that the Secretary retains authority to promulgate regulations interpreting the new clause in accordance with title 5, United States Code, section 553
• Sets an effective date for the amendments to apply to determinations made on or after the date of enactment
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