H.R. 2544 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Education and Workforce, Apr 1, 2025
What this bill does
In plain words · AI-written from the official summaryExpands investment choices in retirement plans
Ever wonder who decides what investments you can pick from in your 401(k). This bill stops the Department of Labor from limiting the types or range of investments that retirement plan fiduciaries—people managing these plans—can offer to workers and retirees. It specifically applies to retirement plans that already let participants choose their own investments, like 401(k) plans with self-directed brokerage windows where you can pick additional options beyond the usual fund lineup.
How it affects you
If you participate in an employer-sponsored retirement plan that allows self-directed investing, you could potentially have access to a wider range of investment choices than the Department of Labor might otherwise permit. This would give you more options to pick from when deciding where to put your retirement savings.
Read the official summary (Introduced in House, Apr 1, 2025)
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 2544
A BILL
Financial Freedom Act of 2025
Sponsor: Rep. Byron Donalds (R-FL-19) · Introduced Apr 1, 2025 · Labor and Employment · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Apr 1, 2025: “Referred to the House Committee on Education and Workforce.”