H.R. 5169 Reported by committee Labor and Employment

Retire through Ownership Act

To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Allen, Rick W. [R-GA-12] Introduced September 8, 2025 Cosponsors 4 (3 R, 1 D) Latest action January 14, 2026

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 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 appraiser or expert 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. 

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jan 14, 2026 Placed on the Union Calendar, Calendar No. 383.
  2. Jan 14, 2026 Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.
  3. Sep 17, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 0.
  4. Sep 17, 2025 Committee Consideration and Mark-up Session Held
  5. Sep 8, 2025 Referred to the House Committee on Education and Workforce.
  6. Sep 8, 2025 Introduced in House

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