S 1222

Financial Freedom Act of 2025

Summary

Financial Freedom Act of 2025 This bill prohibits the Department of Labor from limiting the type or range of investments that fiduciaries may offer participants and beneficiaries in certain employer-sponsored retirement plans. The bill applies to certain defined contribution plans that permit participants or beneficiaries to exercise control over the assets in the account, such as a 401(k) plan that allows participants or beneficiaries to select additional investment options through a self-directed brokerage window.

Bill status

Status: In committee
Sponsor: Sen. Tommy Tuberville [R-AL]
Cosponsors: 3
Policy area: Labor and Employment
Introduced: 2025-04-01
Latest action: 2025-04-01: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Committee referrals

Health, Education, Labor, and Pensions Committee: Senate · Referred To · 2025-04-01

Recent actions

2025-04-01: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
2025-04-01: Introduced in Senate