The October 15, 2026 ""Retire through Ownership Act”

The Act includes some clarifying amendments to Section 3 of ERISA and then the following clarification of fiduciary duties to the plan:

"...  a fiduciary of an employee stock ownership plan (as defined in section 407(d)(6)) may make a good faith reliance on a valuation provided by an independent valuation expert or business appraiser that has relied upon the principles and methodologies set forth in Internal Revenue Service Revenue Ruling 59–60 (as amplified and modified by the Internal Revenue Service from time to time) in determining the fair market value of an asset described in such clause."