What is the Retire Through Ownership Act?

The Retire Through Ownership Act (RTOA) amends ERISA’s definition of “adequate consideration” to clarify that ESOP fiduciaries may rely in good faith on independent valuations based on IRS Revenue Ruling 59-60.

On Thursday, October 15, the Retire Through Ownership Act was signed by President Trump and became law. This was a great victory for employee owners, current and future ESOPs, fiduciaries, and professional advisors.

Since Donald Trump was inaugurated for his second term as President on January 20, our federal government is undergoing dramatic changes at an unprecedented pace that has not been seen in our nation’s modern history.