U.S. Congress legislation · 119th Congress
SB2403: Retire through Ownership Act
Status: Signed into law, October 15, 2026
A bill to amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes.
What the bill says
To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes. Public Law 124 Public Law 119-124 140 Stat. 1074 United States Government Publishing Office National Archives and Records Administration Office of the Federal Register text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. GPO Locator to USLM Converter 4.15.130;Stage2.20260828 2026-10-20 119 public PUBLIC LAW 119-124--OCT…
From the chaptered text, October 16, 2026:
To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes. Public Law 124 Public Law 119-124 140 Stat. 1074 United States Government Publishing Office National Archives and Records Administration Office of the Federal Register text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. GPO Locator to USLM Converter 4.15.130;Stage2.20260828 2026-10-20 119 public PUBLIC LAW 119-124--OCT. 15, 2026 140 STAT. 1074 Public Law 119-124 119th Congress To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes. Oct. 15, 2026 [ S. 2403 ] SECTION SECTION 1. SHORT TITLE. This Act may be cited as the " Retire through Ownership Act ". SECTION SEC. 2. AMENDING ADEQUATE CONSIDERATION DEFINITION. (a) In General .-- Section 3(18) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(18) ) is amended -- (1) by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively; (2) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively; (3) by inserting " (A) " before " The term "; and …