119th Congress · introduced in the House · Sep 8, 2025
Retire through Ownership Act
Official title from Congress.gov
Latest action (Jan 14, 2026): Placed on the Union Calendar, Calendar No. 383.
View on Congress.govPolicy area: Labor and Employment
Congressional Research Service summary, version: Introduced in House (Sep 8, 2025)
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.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Placed on the Union Calendar, Calendar No. 383.
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.
Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 0.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Education and Workforce.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
Employee benefits and pensions · Financial services and investments · Securities
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 23, 2026.
18 citations.
AMERICAN ASSOCIATION FOR JUSTICE · lobbying firm or registrant: AMERICAN ASSOCIATION FOR JUSTICE
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Labor Issues/Antitrust/Workplace
$1,580,000
Spent on own lobbying
…nforcement Act. H.R.6350 - College Athletics Reform Act. H.R.5267 - American Franchise Act. H.R.2988 - Protecting Prudent Investment of Retirement Savings Act. H.R.5169 - Retire through Ownership Act. H.R.4624 - Muhammad Ali American Boxing Revival Act of 2026. S.4668 - Protect College Sports Act of 2026. H.R.9137 - Protect Co…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 19, 2026 · issue area: Retirement
$30,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act. H.R. 9765/S. 5148, Improving Retirement Security for Family Caregivers A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 19, 2026 · issue area: Taxation/Internal Revenue Code
$30,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act. H.R. 9765/S. 5148, Improving Retirement Security for Family Caregivers A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: AMERICAN BENEFITS COUNCIL
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · amended · posted Sep 10, 2026 · issue area: Retirement
$330,000
Spent on own lobbying
…07) Automatic re-enrollment of unenrolled plan participants permitted by (S. 1831) EBSA Investigations Transparency Act (HR 2869) Retire Through Ownership Act (HR 5169) Transparency for Secret Litigation Agreements (HR 2958) Common Interest Agreements used by the U.S. DOL Pleading standards, legislative proposal applicable to…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN ASSOCIATION FOR JUSTICE · lobbying firm or registrant: AMERICAN ASSOCIATION FOR JUSTICE
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Labor Issues/Antitrust/Workplace
$1,840,000
Spent on own lobbying
…nforcement Act. H.R.6350 - College Athletics Reform Act. H.R.5267 - American Franchise Act. H.R.2988 - Protecting Prudent Investment of Retirement Savings Act. H.R.5169 - Retire through Ownership Act. H.R.4624 - Muhammad Ali American Boxing Revival Act of 2026. S.4668 - Protect College Sports Act of 2026. H.R.9137 - Protect Co…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 17, 2026 · issue area: Retirement
$30,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act. H.R. 9765/S. 5148, Improving Retirement Security for Family Caregivers A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 17, 2026 · issue area: Taxation/Internal Revenue Code
$30,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act. H.R. 9765/S. 5148, Improving Retirement Security for Family Caregivers A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN ASSOCIATION FOR JUSTICE · lobbying firm or registrant: AMERICAN ASSOCIATION FOR JUSTICE
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Labor Issues/Antitrust/Workplace
$1,480,000
Spent on own lobbying
…nforcement Act. H.R.6350 - College Athletics Reform Act. H.R.5267 - American Franchise Act. H.R.2988 - Protecting Prudent Investment of Retirement Savings Act. H.R.5169 - Retire through Ownership Act. H.R.4624 - Muhammad Ali American Boxing Revival Act of 2026.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 16, 2026 · issue area: Retirement
$50,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act. H.R. 9765/S. 5148, Improving Retirement Security for Family Caregivers A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 16, 2026 · issue area: Taxation/Internal Revenue Code
$50,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act. H.R. 9765/S. 5148, Improving Retirement Security for Family Caregivers A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: AMERICAN BENEFITS COUNCIL
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Retirement
$210,000
Spent on own lobbying
…educed 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 stand…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Labor Issues/Antitrust/Workplace
$17,960,000
Spent on own lobbying
…ve Local Business Act H.R. 4424, Securing Help for Involuntary Employment Loss and Displacement (SHIELD) Act H.R. 4896/S. 2613, Warehouse Worker Protection Act H.R. 5169, Retire through Ownership Act H.R. 5408/S. 844, Faster Labor Contracts Act H.R. 6655, A Stronger Workforce for America Act S. 1261, American Franchise Act S.28…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Retirement
$17,960,000
Spent on own lobbying
H.R. 2540, SSI Savings Penalty Elimination Act H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 H.R. 5169, Retire through Ownership Act H.R. 6084, ERISA Litigation Reform Act Various issues relating to multiemployer pension plans; single employer defined contributi…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN ASSOCIATION FOR JUSTICE · lobbying firm or registrant: AMERICAN ASSOCIATION FOR JUSTICE
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Labor Issues/Antitrust/Workplace
$1,770,000
Spent on own lobbying
…nforcement Act. H.R.6350 - College Athletics Reform Act. H.R.5267 - American Franchise Act. H.R.2988 - Protecting Prudent Investment of Retirement Savings Act. H.R.5169 - Retire through Ownership Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 16, 2026 · issue area: Retirement
$60,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BENEFITS COUNCIL · lobbying firm or registrant: DAVIS & HARMAN LLP
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 16, 2026 · issue area: Taxation/Internal Revenue Code
$60,000
Paid to lobbying firm
…Empowerment Act. S. 2335, Pensions for All Act. S. 2003, Strengthening Benefit Plans Act. H.R. 6722, Automatic IRA Act. H.R. 6084, ERISA Litigation Reform Act. H.R. 5169/S. 2403, Retire through Ownership Act. S. 1728, Employee Ownership Representation Act.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Labor Issues/Antitrust/Workplace
$13,650,000
Spent on own lobbying
…ve Local Business Act H.R. 4424, Securing Help for Involuntary Employment Loss and Displacement Act (SHIELD) H.R. 4896/S. 2613, Warehouse Worker Protection Act H.R. 5169, Retire through Ownership Act H.R. 5408/S. 844, Faster Labor Contracts Act H.R. 6655, A Stronger Workforce for America Act S.J.Res. 8, A joint resolution provi…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Retirement
$13,650,000
Spent on own lobbying
H.R. 2540, SSI Savings Penalty Elimination Act H.R. 5169, Retire through Ownership Act Various issues relating to multiemployer pension plans; single employer defined contribution plans and defined benefit plans; fid…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing