The "Retire through Ownership Act" amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide a clearer definition of adequate consideration for certain closely held stock within Employee Stock Ownership Plans (ESOPs). Specifically, it allows an ESOP fiduciary to rely in good faith on a valuation provided by an independent valuation expert or business appraiser. This expert must determine the fair market value using principles and methodologies outlined in Internal Revenue Service Revenue Ruling 59-60 . The bill clarifies that this provision does not expand the Secretary's regulatory authority, prevent the promulgation of new regulations, or modify a fiduciary's existing obligations under ERISA Section 404. These amendments will apply to relevant determinations made on or after the Act's enactment date.