Financial Freedom Act of 2023
Latest action · Feb 15, 2023 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 15, 2023
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 7
Members who signed on, in the order they did. Signatures ran from Feb 15, 2023 to Mar 8, 2023, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-WY | Cynthia M. Lummis | Original | Feb 15, 2023 |
| R-AL | Katie Boyd Britt | Original | Feb 15, 2023 |
| R-IN | Mike Braun | Original | Feb 15, 2023 |
| R-FL | Rick Scott | Original | Feb 15, 2023 |
| R-NC | Ted Budd | Mar 2, 2023 | |
| R-TX | Ted Cruz | Mar 2, 2023 | |
| R-KY | Rand Paul | Mar 8, 2023 |
Actions 2
Everything that happened, newest first.
- Feb 15, 2023Introduced in Senate
- Feb 15, 2023Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1177 | Financial Freedom Act of 2023 | Identical bill | Feb 24, 2023 |
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
Text 1
Each version as it was printed, newest first.
- Feb 15, 2023Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.