Retire through Ownership Act

Last action on Jan 14, 2026Placed on the Union Calendar, Calendar No. 383.

Summary

The Retire through Ownership Act would modify how Employee Stock Ownership Plans (ESOPs) determine the fair market value of company stock that is not publicly traded. Currently, ESOPs must follow specific valuation procedures, and this bill would allow plan fiduciaries to rely on valuations from independent appraisers or business valuation experts, provided those experts follow established IRS methodology for valuing closely held businesses.

ESOPs are retirement plans where employees accumulate shares of their employer's stock as part of their compensation package. When employees retire or leave their job, they receive the cash value of their accumulated shares. If enacted, this bill could make it easier and potentially less costly for ESOP fiduciaries to obtain reliable valuations of company stock, which could benefit employees by streamlining the process of determining what their retirement benefits are worth.

The bill has passed committee review and is now eligible for a floor vote in the House. It would require presidential signature to become law if approved by both chambers of Congress.

Lifecycle of the Bill

Committee Consideration and Mark-up Session Held

Sep 17, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 0.

Sep 17, 2025

HearingHouseMarkup

Sep 17, 2025 · 14:15

H.R. 1723 the "Tribal Labor Sovereignty Act"; H.R. 2958 the "Balance the Scales Act"; H.R. 2869 the "EBSA Investigations Transparency Act"; H.R. 2844 the "Michael Enzi Voluntary Protection Program Act"; H.R. 3495 the "Direct Seller and Real Estate Agent Harmonization Act"; H.R. 5169 the "Retire through Ownership Act"

Committee

House Committee on Education and Workforce

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Summary

On September 17, 2025, the House Committee on Education and Workforce held a markup session to consider six bills affecting labor and retirement policy. The bills included H.R. 1723 (Tribal Labor Sovereignty Act), which would exclude Indian tribes and tribal enterprises from National Labor Relations Act requirements; H.R. 2958 (Balance the Scales Act), requiring the Labor Department to notify employers when providing information that could be used in litigation against them; H.R. 2869 (EBSA Investigations Transparency Act); H.R. 2844 (Michael Enzi Voluntary Protection Program Act); H.R. 3495 (Direct Seller and Real Estate Agent Harmonization Act); and H.R. 5169 (Retire through Ownership Act), which would clarify valuation rules for Employee Stock Ownership Plans. The committee approved five of the six bills on party-line votes of 19-16. H.R. 5169 passed unanimously 35-0, indicating broader bipartisan support for ESOP valuation clarity. H.R. 1723 faced opposition from labor unions, including the AFL-CIO, which argued it would deny National Labor Relations Act protections to hundreds of thousands of workers at tribal enterprises. Supporters contended the bill would respect tribal sovereignty by treating tribes similarly to state and local governments under federal labor law. The markup session, held in Room 2175 of the Rayburn House Office Building, involved amendments to several bills before committee votes. Passage in committee does not guarantee these bills will advance to the full House for consideration.

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Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.

Jan 14, 2026

Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.

Jan 14, 2026

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Retire through Ownership Act

Summary

Lifecycle of the Bill

Committee

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Lifecycle of the Bill

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Bill Information

Sponsors & Co-sponsors (5)

Cosponsors (4)

Policy Area

Legislative Subjects (3)

Related Legislation (1)

Committees (1)

House Committee on Education and Workforce

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Committee

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