Amends ERISA to clarify the definition of adequate consideration for closely held stock.

The Retire through Ownership Act amends the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock. It allows a fiduciary of an employee stock ownership plan to rely on IRS Revenue Ruling 59–60 in determining the fair market value of an asset. This change applies to determinations made after the enactment of this Act.

Amends ERISA to clarify the definition of adequate consideration for closely held stock.

The Retire through Ownership Act amends the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock. It allows a fiduciary of an employee stock ownership plan to rely on IRS Revenue Ruling 59–60 in determining the fair market value of an asset. This change applies to determinations made after the enactment of this Act.