To amend the Employee Retirement Income Security Act of 1974 to permit employee stock ownership plan participants to benefit from the full amount of beneficial ownership that can be accrued in the plan while also fully realizing the benefits of saving for retirement in a defined contribution plan.
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Summary
Based on the bill's title, this measure would amend the Employee Retirement Income Security Act of 1974 to modify rules governing employee stock ownership plans (ESOPs). The bill appears intended to allow ESOP participants to accumulate greater beneficial ownership stakes in their plans while simultaneously maintaining the tax and retirement savings benefits available through defined contribution plans. The specific mechanisms and scope of these changes are not available from the title alone.
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