S 1728 United States Senate · 119th Congress

Employee Ownership Representation Act of 2025

This bill increases the size of the ERISA Advisory Council (which advises on retirement and pension laws) from 15 to 17 members. It specifically adds two new seats for representatives from employee ownership organizations (like worker-owned cooperatives), while increasing the number of pension plan representatives. The changes take effect within one year of the bill becoming law, requiring the Labor Secretary to appoint these new members. The bill directly affects the council's composition and gives employee ownership groups a formal role in advising on retirement and pension policy.
Bill status passed 3 of 5 stages cleared
Introduction
May 2025
Committee Review
Sep 2025
Senate Passage
Oct 2025
House Passage
President
Introduced May 13, 2025 Last action Oct 17, 2025
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What changed between versions

Introduced in Senate Engrossed in Senate · 7 edits · Oct 9, 2025
MODERATE
The bill was substantially expanded from a narrow amendment adding two employee ownership representatives to an existing pension advisory council into a comprehensive framework creating three new institutional structures: the Office of Employee Ownership within the Department of Labor, a 7-member Advisory Council on Employee Ownership, and an Advocate for Employee Ownership position added to ERISA. These additions establish dedicated federal infrastructure to promote employee stock ownership plans (ESOPs) and worker-owned cooperatives, with reporting requirements to Congress and coordination mandates across multiple agencies.
SCOPE

Establishes the Office of Employee Ownership within the Department of Labor (outside the Employee Benefits Security Administration), to be created within 90 days of enactment, headed by a Director appointed by the Secretary of Labor. The office is responsible for carrying out the Employee Ownership Initiative from the SECURE 2.0 Act of 2022.

Creates a 7-member Advisory Council on Employee Ownership with a defined composition: 4 employee representatives, 1 representative of companies with ESOPs or worker-owned cooperatives, 1 ESOP provider representative, and 1 association representative. Members serve 2-year terms, no more than 4 may share the same political party, and the council must meet at least 4 times per year.

Adds a new section 3005 to ERISA establishing an Advocate for Employee Ownership within the Employee Ownership Initiative. The Advocate serves as a liaison between the Department of Labor, ESOP stakeholders, and other agencies (SBA, Treasury, Commerce, state and local governments), provides public education, helps resolve disputes, and recommends legislative or administrative changes to promote employee ownership.

REQUIREMENT

The Advisory Council must submit an annual report to the Secretary of Labor with recommendations on carrying out the Act's functions. Members are compensated at the Level IV Executive Schedule rate plus travel expenses.

ENFORCEMENT

The Advocate for Employee Ownership must submit an annual report to the Senate HELP Committee and House Education and Workforce Committee by December 31 of each year, summarizing assistance requests, evaluating effectiveness, identifying problems, making recommendations, and describing progress in employee ownership. Reports must also be made publicly available.

FISCAL

Authorizes appropriations for the Advocate for Employee Ownership position, compensated at the Level V Executive Schedule rate.

TECHNICAL

Corrected a statutory citation from '29 1142(a)' to '29 U.S.C. 1142(a)' in the effective date provision.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history

Actions timeline

Total actions
10
Key actions
4
Committee
3
Oct 9, 2025
Upper · Passed
Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7101-7103; text: CR S7102-7103)
upper
Oct 9, 2025
Upper · Passed
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
upper
Sep 11, 2025
Upper · Passed
Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
upper
Jul 30, 2025
Upper · Passed
Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
upper
May 13, 2025
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
May 13, 2025
Introduced
Introduced in Senate
upper
1 primary · 2 co-sponsors

Sponsors