H.R. 2544 119th Congress House

Financial Freedom Act of 2025

Official title: To prohibit the Secretary of Labor from constraining the range or type of investments that may be offered to participants and beneficiaries of individual retir… Show full official titleShow less

Official title: To prohibit the Secretary of Labor from constraining the range or type of investments that may be offered to participants and beneficiaries of individual retirement accounts who exercise control over the assets in such accounts.

Introduced: April 1, 2025 Introduced by: Byron Donalds Republican · Florida See on congress.gov

Labor and Employment Administrative law and regulatory proceduresDepartment of LaborEmployee benefits and pensionsFinancial services and investments

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 1, 2025

Referred to the House Committee on Education and Workforce.

Apr 1, 2025

Introduced in House

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What's happening now April 1, 2025

Referred to the House Committee on Education and Workforce.

Plain-English summary Congressional Research Service

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.

Related & companion bills 1

Bill text 1 version

Introduced in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Education and Workforce Committee
House of Representatives

Lobbying activity 45

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

AMERIPRISE FINANCIAL, INC.
for AMERIPRISE FINANCIAL, INC. · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
for FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · California · 3rd Quarter 2026 (July 1 - Sep 30)
AMERICAN COUNCIL OF LIFE INSURERS
for AMERICAN COUNCIL OF LIFE INSURERS · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
DAVIS & HARMAN LLP
for FMR LLC · Massachusetts · 3rd Quarter 2026 (July 1 - Sep 30)
DAVIS & HARMAN LLP
for AMERICAN BENEFITS COUNCIL · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
CAPITOL COUNSEL LLC
for FRANKLIN TEMPLETON FUNDS · California · 3rd Quarter 2026 (July 1 - Sep 30)

Bodies those filers lobbied

HOUSE OF REPRESENTATIVES
45 filings
SENATE
45 filings
White House Office
8 filings
Pension Benefit Guaranty Corporation (PBGC)
7 filings
Pension & Welfare Benefits Administration
5 filings
Treasury, Dept of
4 filings
Securities & Exchange Commission (SEC)
3 filings
Executive Office of the President (EOP)
1 filing

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 45 filings →

Cite this page click to expand

APA

U.S. Congress. (2026). H.R. 2544: Financial Freedom Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-HR-2544/

MLA

"H.R. 2544: Financial Freedom Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-2544/.

Bluebook (legal)

H.R. 2544, 119th Cong. (2026), https://openamerica.io/bill/119-HR-2544/.

Markdown link

[H.R. 2544: Financial Freedom Act of 2025](https://openamerica.io/bill/119-HR-2544/)