# 119-hr-5169: Retire through Ownership Act

119-hr-5169, Retire through Ownership Act, is a 119th Congress bill sponsored by Rep. Allen, Rick W. [R-GA-12] (R-GA); status in_committee; PRIA reads it as touching household money (as of 2026-10-28).

- Canonical: https://policyrisk.com/legislation/119-hr-5169
- As of: 2026-10-28
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-5169
- Congress: 119
- Title: Retire through Ownership Act
- Status: in_committee
- Introduced: 2025-09-08
- Sponsor: Rep. Allen, Rick W. [R-GA-12] (R-GA)
- Cosponsors: 4
- Policy area: Labor and Employment
- Touches household money: yes
- Last recorded action: 2026-10-28

## Summary

**Safe harbor for ESOP fiduciaries to rely on independent valuations.** The bill would add a provision to ERISA letting a fiduciary in good faith rely on an independent valuation or business appraiser that follows IRS Revenue Ruling 59-60 when deciding whether closely held stock is "adequate consideration." It reorganizes the ERISA definition that governs these determinations, preserves the Secretary's authority to issue rules, and leaves fiduciary duties unchanged. The changes apply only to determinations made on or after enactment. - Employees in ESOPs: May see more predictable treatment of company stock values when plans buy or value shares, which can affect plan holdings and distributions. - ESOP fiduciaries: Gain an explicit safe harbor to rely on independent valuation experts using Rev. Rul. 59-60, reducing uncertainty when assessing adequate consideration. - Closely held company owners and sellers: Face a clearer valuation standard in ESOP transactions, which could influence negotiation and sale terms. - Regulators and plan overseers: Keep existing rulemaking authority and fiduciary obligations because the bill explicitly preserves those powers and duties.

## Cosponsors (4)

- Rep. Edwards, Chuck [R-NC-11] (R-NC), 2025-09-16T00:00:00.000Z
- Rep. Messmer, Mark B. [R-IN-8] (R-IN), 2025-09-18T00:00:00.000Z
- Rep. McBath, Lucy [D-GA-6] (D-GA), 2025-10-10T00:00:00.000Z
- Rep. Baumgartner, Michael [R-WA-5] (R-WA), 2025-10-10T00:00:00.000Z

## Provisions PRIA read

- Safe harbor for ESOP valuations: benefit, low. If enacted, the bill would create a safe harbor for valuations used in employee stock ownership plan (ESOP) transactions. It would let ESOP fiduciaries rely in good faith on independent valuation experts or business appraisers. The expert would have to use the principles and methods in IRS Revenue…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025
- 119-hr-909: Crime Victims Fund Stabilization Act of 2025
- 119-hres-166: Expressing support for the Iranian people's desires for a democratic, secular, and nonnuclear Republic of Iran, and condemning the Iranian regime's terrorism,…
- 119-hconres-12: Supporting the Local Radio Freedom Act.

## Sources
- [119-hr-5169 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/5169)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514)
- [119-hr-909: Crime Victims Fund Stabilization Act of 2025](https://policyrisk.com/legislation/119-hr-909)
- [119-hres-166: Expressing support for the Iranian people's desires for a democratic, secular,…](https://policyrisk.com/legislation/119-hres-166)
- [119-hconres-12: Supporting the Local Radio Freedom Act.](https://policyrisk.com/legislation/119-hconres-12)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-5169 (as of 2026-10-28).