H.R. 5169 — Retire through Ownership Act

This section amends ERISA's definition of adequate consideration to permit a fiduciary of an employee stock ownership plan (ESOP, i.e., a qualified retirement plan designed to invest primarily in employer securities) to rely in good faith, for purposes of determining an asset's fair market value, on a valuation provided by an independent valuation expert or business appraiser that applies the principles and methodologies of IRS Revenue Ruling 59-60 (as amplified, clarified, distinguished, or modified). The provision clarifies that this safe harbor does not preclude Department of Labor regulations interpreting adequate consideration, expand the Secretary's regulatory authority beyond its pre-enactment scope, or modify a fiduciary's duties under ERISA section 404(a); it applies to determinations made on or after enactment.