Amends ERISA to clarify the definition of adequate consideration for certain closely held stock.
Amends the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock. This includes allowing fiduciaries of an employee stock ownership plan to rely on valuations from independent experts using IRS Revenue Ruling 59-60. The changes apply to determinations made after the enactment of this Act.
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