Bills · 119th Congress · Labor and Employment

Retire through Ownership Act

Where it stands

  1. Introduced7/23/25
  2. Passed SenatePassed 10/9/25
  3. HousePassed 9/16/26
  4. PresidentSigned 10/15/26
  5. LawPublic Law 119-124

Passed the Senate with an amendment by unanimous consent on October 9, 2025. Passed the House 401–14 on September 16, 2026 (Roll Call 314 →). Became Public Law 119-124 on October 15, 2026.

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Roll calls on this bill

Votes on passage
HouseOn Motion to Suspend the Rules and Pass · 9/16/26Suspension of the rulesA fast-track House procedure, usually for measures expected to have broad support. Debate is limited to 40 minutes, no amendments can be offered, and it needs a two-thirds vote of members voting — not a simple majority. A yes vote passes the bill.Rules of the House, Rule XV, clause 1 ↗
Passed
  • Democratic209 Yea · 0 Nay · 5 Not voting
  • Republican191 Yea · 14 Nay · 13 Not voting
  • Independent / Other1 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

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 expert or business appraiser in determining the fair market value of the plan's assets if the assets are not securities for which there is a generally recognized market 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.

Full text on congress.gov ↗
Sponsor
Sen. Roger Marshall ( Republican · KS)
Cosponsors
1
Introduced
7/23/25
Policy area
Labor and Employment

What happens next

Became Public Law 119-124.

All actions (21)
  1. 7/23/25Introduced in Senate
  2. 7/23/25Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
  3. 7/30/25Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
  4. 9/11/25Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
  5. 9/11/25Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.
  6. 10/9/25Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
  7. 10/9/25Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)
  8. 10/16/25Message on Senate action sent to the House.
  9. 10/17/25Received in the House.
  10. 10/17/25Held at the desk.
  11. 9/16/26Mr. Walberg moved to suspend the rules and pass the bill.
  12. 9/16/26Considered under suspension of the rules. (consideration: CR H5905-5906)
  13. 9/16/26DEBATE - The House proceeded with forty minutes of debate on S. 2403.
  14. 9/16/26At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  15. 9/16/26Considered as unfinished business. (consideration: CR H5960)
  16. 9/16/26Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 401 - 14 (Roll no. 314). (text: CR H5905)
  17. 9/16/26On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 401 - 14 (Roll no. 314). (text: CR H5905)
  18. 9/16/26Motion to reconsider laid on the table Agreed to without objection.
  19. 10/5/26Presented to President.
  20. 10/15/26Signed by President.
  21. 10/15/26Became Public Law No: 119-124.