We have received text from S. 2403: Retire through Ownership Act. This bill was received on 2025-07-23, and currently has 1 cosponsor.
Here is a short summary of the bill:
This bill, titled the **Retire through Ownership Act**, seeks to amend the Employee Retirement Income Security Act (ERISA) of 1974 with a focus on employee stock ownership plans (ESOPs). The main provisions of the bill can be summarized as follows:
Amending Definition of Adequate Consideration
The bill aims to redefine what is meant by "adequate consideration" in the context of certain closely held stock when determining fair market value. The specific changes include:
- Redesignating certain clauses and subparagraphs related to adequate consideration in the act.
- Establishing that fiduciaries of employee stock ownership plans may rely on specific methodologies from the Internal Revenue Service, particularly referring to **Revenue Ruling 59-60**. This ruling provides a set of principles for valuing stock and other assets.
Reliance on IRS Methodologies
The bill allows plan fiduciaries to rely on good faith on these IRS principles when determining the fair market value of stock that is part of an ESOP. This is significant because it provides a clearer framework for fiduciaries, potentially reducing legal uncertainties and helping them make informed decisions regarding stock evaluations.
Effective Date
The amendments proposed in this bill would take effect for determinations made on or after the date when the bill is enacted. This means that once the bill becomes law, the updated guidance will apply to all employee stock ownership plans from that point forward.
Objectives of the Bill
The overall goal of the **Retire through Ownership Act** is to enhance the viability and effectiveness of employee stock ownership plans, encouraging businesses to utilize these plans as a way to facilitate employee retirement through ownership of the company stock. By amending the definition of adequate consideration, the bill aims to simplify the valuation process and foster a more supportive environment for ESOPs.
Relevant Companies
None found
Senator Roger Marshall Bill Proposals
Here are some bills which have recently been proposed by Senator Roger Marshall:
- S.2420: A bill to amend title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to increase penalties for group health plans, health insurance issuers, and nonparticipating providers or facilities for practices that violate balance billing requirements, and for other purposes.
- S.2403: A bill 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.
- S.2355: A bill to amend the Public Health Service Act to provide for hospital and insurer price transparency.
- S.2316: A bill to amend the Controlled Substances Act to require electronic communication service providers and remote computing services to report to the Attorney General certain controlled substances violations.
- S.2114: Commercial Motor Vehicle English Proficiency Act
- S.2090: Budget Reform Act of 2025
You can track bills proposed by Senator Roger Marshall on Quiver Quantitative's politician page for Marshall.
Senator Roger Marshall Net Worth
Quiver Quantitative estimates that Senator Roger Marshall is worth $6.1M, as of July 29th, 2025. This is the 131st highest net worth in Congress, per our live estimates.
Marshall has approximately $137.6K invested in publicly traded assets which Quiver is able to track live.
You can track Senator Roger Marshall's net worth on Quiver Quantitative's politician page for Marshall.
Senator Roger Marshall Stock Trading
We have data on up to $5.7M of trades from Senator Roger Marshall, which we parsed from STOCK Act filings. Some of the largest trades include:
- A February 3rd, 2017 purchase of up to $50K of $TWTR. The stock has risen 204.94% since then.
- A August 27th, 2018 sale of up to $50K of $MSFT. The stock has risen 367.61% since then.
- A May 19th, 2020 purchase of up to $15K of $ROKU. The stock has fallen 19.28% since then.
- A May 5th, 2017 sale of up to $15K of $JNUG. The stock has fallen 90.0% since then.
- A October 9th, 2017 sale of up to $15K of $OTIC. The stock has fallen 99.75% since then.
You can track Senator Roger Marshall's stock trading on Quiver Quantitative's politician page for Marshall.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
