Retire through Ownership Act

The Retire through Ownership Act changes rules for Employee Stock Ownership Plans (ESOPs), which are retirement plans where workers get shares of their company's stock as part of their pay. When employees retire or leave their job, they get cash for their shares. The bill allows plan managers to use valuations from independent appraisers to determine how much the stock is worth, as long as the stock isn't traded on public exchanges and the appraisers follow specific methods set by the IRS.

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