Financial Freedom Act of 2025
- Bill Number
- S. 1222
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 1
- Policy Area
- Labor and Employment
- Status
- Introduced
- Latest Action
- 2025-04-01: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Last Updated
- 2025-12-05T21:58:46Z
Official 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.
Sponsor
Cosponsors (3)
Sen. Lummis, Cynthia M. [R-WY], Sen. Justice, James C. [R-WV], Sen. Scott, Rick [R-FL]
Recent Actions
- 2025-04-01: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- 2025-04-01: Introduced in Senate
Bill Versions
- Financial Freedom Act of 2025 — issued 2025-04-01 — PDF (3 pages)