Labor and EmploymentEmployee benefits and pensionsFinancial services and investmentsSecurities
Why This Matters
This bill clarifies how employee stock ownership plans should value closely held stock for retirement purposes. It allows fiduciaries to use independent experts for these valuations.
If you are part of an employee stock ownership plan, this bill ensures your stock is valued accurately by independent experts.
Who this affects
employees in stock plans · fiduciaries managing plans
What changes is this bill making?
1This bill helps employee stock ownership plans determine fair market value for closely held stock.
2Fiduciaries can rely on independent experts for stock valuations, ensuring more accurate assessments.
3The bill updates the definition of 'adequate consideration' to reflect current valuation practices.
4It does not change existing fiduciary responsibilities under the Employee Retirement Income Security Act.
