diff --git a/NEWS b/NEWS
index 51dd10539..8ab758819 100644
--- a/NEWS
+++ b/NEWS
@@ -3,6 +3,18 @@ For full details, see the git log at: https://github.com/ksh93/ksh
 
 Any uppercase BUG_* names are modernish shell bug IDs.
 
+2020-09-09:
+
+- Fixed BUG_LOOPRET2 and related bugs. The 'exit' and 'return' commands without
+  an argument now correctly default to passing down the exit status of the
+  last-run command. Tests like the following, in which the last-run command is
+  'false', now correctly output 1 instead of 0:
+	fn() { return || true; }; false; fn; echo "$?"
+	fn() { while return; do true; done; }; false; fn; echo "$?"
+	fn() { for i in 1; do return; done; }; false; fn; echo "$?"
+	fn() { case 1 in 1) return ;; esac; }; false; fn; echo "$?"
+	fn() { { return; } 2>&1; }; false; fn; echo "$?"
+
 2020-09-05:
 
 - Fixed erroneous syntax errors in parameter expansions such as ${var:-wor)d}
diff --git a/TODO b/TODO
index 8ffc2c499..df46db562 100644
--- a/TODO
+++ b/TODO
@@ -49,9 +49,3 @@ https://github.com/modernish/modernish/tree/0.16/lib/modernish/cap/
   parameter expansion inserts any IFS separator characters, those characters
   are erroneously interpreted as wildcards when quoted "$*" is used as the
   glob pattern.
-
-- BUG_LOOPRET2: If a 'return' command is given without a status argument
-  within the set of conditional commands in a 'while' or 'until' loop (i.e.,
-  between 'while'/'until' and 'do'), the exit status passed down from the
-  previous command is ignored and the function returns with status 0
-  instead.
diff --git a/src/cmd/ksh93/bltins/cflow.c b/src/cmd/ksh93/bltins/cflow.c
index 9396de789..34a3e0f6e 100644
--- a/src/cmd/ksh93/bltins/cflow.c
+++ b/src/cmd/ksh93/bltins/cflow.c
@@ -64,7 +64,7 @@ done:
 		errormsg(SH_DICT,ERROR_usage(2),"%s",optusage((char*)0));
 	pp->mode = (**argv=='e'?SH_JMPEXIT:SH_JMPFUN);
 	argv += opt_info.index;
-	n = (((arg= *argv)?(int)strtol(arg, (char**)0, 10):shp->oldexit));
+	n = (arg = *argv) ? (int)strtol(arg, (char**)0, 10) : shp->savexit;
 	if(n<0 || n==256 || n > SH_EXITMASK+shp->gd->sigmax+1)
 			n &= ((unsigned int)n)&SH_EXITMASK;
 	/* return outside of function, dotscript and profile is exit */
diff --git a/src/cmd/ksh93/include/defs.h b/src/cmd/ksh93/include/defs.h
index df5cdfbf6..59a4b28ca 100644
--- a/src/cmd/ksh93/include/defs.h
+++ b/src/cmd/ksh93/include/defs.h
@@ -155,7 +155,6 @@ struct shared
 	Sfio_t		*heredocs;	/* current here-doc temp file */ \
 	Sfio_t		*funlog;	/* for logging function definitions */ \
 	int		**fdptrs;	/* pointer to file numbers */ \
-	int		savexit; \
 	char		*lastarg; \
 	char		*lastpath;	/* last alsolute path found */ \
 	int		path_err;	/* last error on path search */ \
@@ -181,7 +180,6 @@ struct shared
 	char		*prefix;	/* prefix for compound assignment */ \
 	sigjmp_buf	*jmplist;	/* longjmp return stack */ \
 	char		*fifo;		/* fifo name for process sub */ \
-	int		oldexit; \
 	pid_t		bckpid;		/* background process id */ \
 	pid_t		cpid; \
 	pid_t		spid; 		/* subshell process id */ \
diff --git a/src/cmd/ksh93/include/shell.h b/src/cmd/ksh93/include/shell.h
index 2a3c5acdc..77d908dd0 100644
--- a/src/cmd/ksh93/include/shell.h
+++ b/src/cmd/ksh93/include/shell.h
@@ -140,7 +140,8 @@ struct Shell_s
 	Dt_t		*bltin_tree;    /* for builtin commands */
 	Shscope_t	*topscope;	/* pointer to top-level scope */
 	int		inlineno;	/* line number of current input file */
-	int		exitval;	/* most recent exit value */
+	int		exitval;	/* exit status of the command currently being run */
+	int		savexit;	/* $? == exit status of the last command executed */
 	unsigned char	trapnote;	/* set when trap/signal is pending */
 	char		shcomp;		/* set when running shcomp */
 	unsigned int	subshell;	/* set for virtual subshell */
diff --git a/src/cmd/ksh93/include/version.h b/src/cmd/ksh93/include/version.h
index e06fe1525..f24a1351f 100644
--- a/src/cmd/ksh93/include/version.h
+++ b/src/cmd/ksh93/include/version.h
@@ -17,4 +17,4 @@
 *                  David Korn <dgk@research.att.com>                   *
 *                                                                      *
 ***********************************************************************/
-#define SH_RELEASE	"93u+m 2020-09-05"
+#define SH_RELEASE	"93u+m 2020-09-09"
diff --git a/src/cmd/ksh93/sh/fault.c b/src/cmd/ksh93/sh/fault.c
index 5d138a23b..6af0b003a 100644
--- a/src/cmd/ksh93/sh/fault.c
+++ b/src/cmd/ksh93/sh/fault.c
@@ -614,7 +614,6 @@ void sh_done(void *ptr, register int sig)
 	if(t=shp->st.trapcom[0])
 	{
 		shp->st.trapcom[0]=0; /*should free but not long */
-		shp->oldexit = savxit;
 		sh_trap(t,0);
 		savxit = shp->exitval;
 	}
diff --git a/src/cmd/ksh93/sh/subshell.c b/src/cmd/ksh93/sh/subshell.c
index 504afb5ca..b74b00430 100644
--- a/src/cmd/ksh93/sh/subshell.c
+++ b/src/cmd/ksh93/sh/subshell.c
@@ -610,7 +610,6 @@ Sfio_t *sh_subshell(Shell_t *shp,Shnode_t *t, volatile int flags, int comsub)
 		/* trap on EXIT not handled by child */
 		char *trap=shp->st.trapcom[0];
 		shp->st.trapcom[0] = 0;	/* prevent recursion */
-		shp->oldexit = shp->exitval;
 		sh_trap(trap,0);
 		free(trap);
 	}
diff --git a/src/cmd/ksh93/sh/xec.c b/src/cmd/ksh93/sh/xec.c
index 6c620badd..122a1db8e 100644
--- a/src/cmd/ksh93/sh/xec.c
+++ b/src/cmd/ksh93/sh/xec.c
@@ -972,8 +972,6 @@ int sh_exec(register const Shnode_t *t, int flags)
 		if(was_monitor&flags)
 			sh_onstate(SH_MONITOR);
 		type = t->tre.tretyp;
-		if(!shp->intrap)
-			shp->oldexit=shp->exitval;
 		shp->exitval=0;
 		shp->lastsig = 0;
 		shp->lastpath = 0;
diff --git a/src/cmd/ksh93/tests/basic.sh b/src/cmd/ksh93/tests/basic.sh
index 455efcfe2..71693b0c1 100755
--- a/src/cmd/ksh93/tests/basic.sh
+++ b/src/cmd/ksh93/tests/basic.sh
@@ -428,6 +428,88 @@ if	env x-a=y >/dev/null 2>&1
 then	[[ $(env 'x-a=y'  $SHELL -c 'env | grep x-a') == *x-a=y* ]] || err_exit 'invalid environment variables not preserved'
 fi
 
+foo() { return; }
+false
+foo && err_exit "'return' within function does not preserve exit status"
+false
+foo & wait "$!" && err_exit "'return' within function does not preserve exit status (bg job)"
+
+foo() { false; return || :; }
+foo && err_exit "'return ||' does not preserve exit status"
+
+foo() { false; return && :; }
+foo && err_exit "'return &&' does not preserve exit status"
+
+foo() { false; while return; do true; done; }
+foo && err_exit "'while return' does not preserve exit status"
+
+foo() { false; while return; do true; done 2>&1; }
+foo && err_exit "'while return' with redirection does not preserve exit status"
+
+foo() { false; until return; do true; done; }
+foo && err_exit "'until return' does not preserve exit status"
+
+foo() { false; until return; do true; done 2>&1; }
+foo && err_exit "'until return' with redirection does not preserve exit status"
+
+foo() { false; for i in 1; do return; done; }
+foo && err_exit "'return' within 'for' does not preserve exit status"
+
+foo() { false; for i in 1; do return; done 2>&1; }
+foo && err_exit "'return' within 'for' with redirection does not preserve exit status"
+
+foo() { false; { return; } 2>&1; }
+foo && err_exit "'return' within { block; } with redirection does not preserve exit status"
+
+foo() ( exit )
+false
+foo && err_exit "'exit' within function does not preserve exit status"
+false
+foo & wait "$!" && err_exit "'exit' within function does not preserve exit status (bg job)"
+
+foo() ( false; exit || : )
+foo && err_exit "'exit ||' does not preserve exit status"
+
+foo() ( false; exit && : )
+foo && err_exit "'exit &&' does not preserve exit status"
+
+foo() ( false; while exit; do true; done )
+foo && err_exit "'while exit' does not preserve exit status"
+
+foo() ( false; while exit; do true; done 2>&1 )
+foo && err_exit "'while exit' with redirection does not preserve exit status"
+
+foo() ( false; until exit; do true; done )
+foo && err_exit "'until exit' does not preserve exit status"
+
+foo() ( false; until exit; do true; done 2>&1 )
+foo && err_exit "'until exit' with redirection does not preserve exit status"
+
+foo() ( false; for i in 1; do exit; done )
+foo && err_exit "'exit' within 'for' does not preserve exit status"
+
+foo() ( false; for i in 1; do exit; done 2>&1 )
+foo && err_exit "'exit' within 'for' with redirection does not preserve exit status"
+
+foo() ( false; { exit; } 2>&1 )
+foo && err_exit "'exit' within { block; } with redirection does not preserve exit status"
+
+set --
+false
+for i in "$@"; do :; done || err_exit 'empty loop does not reset exit status ("$@")'
+false
+for i do :; done || err_exit 'empty loop does not reset exit status ("$@" shorthand)'
+false
+for i in; do :; done || err_exit "empty loop does not reset exit status (empty 'in' list)"
+
+false
+case 1 in 1) ;; esac || err_exit "empty case does not reset exit status"
+false
+case 1 in 2) echo whoa ;; esac || err_exit "non-matching case does not reset exit status"
+
+false
+2>&1 || err_exit "lone redirection does not reset exit status"
+
 float s=SECONDS
 for i in .1 .2
 do      print $i