Bill > S1222

This bill, known as the Financial Freedom Act of 2025, seeks to limit the Secretary of Labor's ability to restrict investment options in individual retirement accounts (IRAs) where participants have direct control over their assets. Specifically, the bill amends the Employee Retirement Income Security Act (ERISA) to prevent the Secretary from constraining the range or types of investments available through self-directed brokerage windows. Under the proposed changes, fiduciaries would be allowed to offer a broad range of investment alternatives without being required to favor or disfavor any particular type of investment, except based on its risk-return characteristics. The bill also clarifies that selecting a self-directed brokerage window as an investment option does not violate existing fiduciary requirements of diversification and prudence. This means retirement account holders would have more flexibility in choosing how to invest their retirement savings, potentially including more diverse or alternative investment options that might currently be restricted or discouraged by Labor Department regulations.

Health and Social Services

https://www.congress.gov/bill/119th-congress/senate-bill/1222/all-info