Financial Freedom Act of 2025

This bill amends pension law to expand participant control over individual retirement accounts. It allows plan managers (fiduciaries) to offer self-directed brokerage windows - where participants choose their own investments - without violating standard fiduciary rules about diversification or prudence. The law explicitly prohibits regulators from restricting the types of investments available through these brokerage windows, requiring only that managers provide a broad range of options. This directly affects participants in defined contribution pension plans with individual accounts who want more investment choice, and the plan managers responsible for selecting investment options.