S. 427 · 118th Congress
Financial Freedom Act of 2023
- Stage
- In committee
- Sponsor
- Tommy Tuberville
- Introduced
- 2023-02-15
- Latest action
- 2023-02-15 · Introduced in Senate
Summary
Financial Freedom Act of 2023
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.