Financial Freedom Act of 2023
- Last Action
- 2/24/2023
Actions
- 2023-02-24Referred to the House Committee on Education and the Workforce.
- 2023-02-24Introduced in House
- 2023-02-24Introduced in House
CRS Summary
As of 2023-02-24 (00)
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.
Cosponsors (5)
- Warren Davidson (R-OH)
- Michael Cloud (R-TX)
- David Schweikert (R-AZ)
- Tom Emmer (R-MN)
- Young Kim (R-CA)
Subjects
- Administrative law and regulatory procedures
- Department of Labor
- Employee benefits and pensions
- Financial services and investments
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.