Regulatory and Legislative

Financial Freedom Act Proposed in House

FuturePlan ERISA Team May 27 2022

Representative Byron Donalds (R-FL) and several Republican co-sponsors have introduced HR 7860, the Financial Freedom Act of 2022. This is companion legislation to S 4147 introduced earlier this month by Senator Tommy Tuberville (R-AL). The proposal would prohibit the Department of Labor (DOL) from restricting the types of investments that plan participants can choose through participant directed accounts and self-directed brokerage accounts. The bills are in response to regulatory guidance released by the DOL and announced in March.

Legislative updates DOL Defined Contribution Plan

Regulatory and Legislative

ESOP Proposed Rule on Hold

ESOP Proposed Rule on Hold

A proposed rule and class exemption issued by the Department of Labor’s Employee Benefits Security Administration providing guidance on ESOP transactions has been withdrawn from publication.


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