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Greater Investment Freedom for Retirement Accounts

This bill aims to give individuals more freedom in how they invest their retirement savings. It means that companies managing retirement plans will face fewer restrictions on the types of investments offered, giving participants more control over their money.
Key points
More investment choices: Individuals in retirement plans will have access to a broader range of investment options.
No favoring or disfavoring specific investments: Plan managers cannot favor or disfavor particular investment types, except based on risk and return.
Easier use of self-directed brokerage accounts: If a plan offers a self-directed brokerage window, there will be no limits on the types of investments available through it.
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Expired
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Additional Information
Print number: 118_HR_1177
Sponsor: Rep. Donalds, Byron [R-FL-19]
Process start date: 2023-02-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Freedom Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1177.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-02-24.

What are the main provisions?

Key points include:

  • More investment choices: Individuals in retirement plans will have access to a broader range of investment options.
  • No favoring or disfavoring specific investments: Plan managers cannot favor or disfavor particular investment types, except based on risk and return.
  • Easier use of self-directed brokerage accounts: If a plan offers a self-directed brokerage window, there will be no limits on the types of investments available through it.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Donalds, Byron [R-FL-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and the Workforce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Labor Economy