S 427 · 118th Congress · Labor and Employment
Financial Freedom Act of 2023
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.(2023-02-15)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only