H.R. 2544 — Financial Freedom Act of 2025

This section establishes protections under ERISA's prudent man standard of care for fiduciaries of pension plans providing individual accounts with participant or beneficiary control over assets. It provides that the standard neither (1) requires or prohibits selection of any particular investment alternatives—provided participants or beneficiaries may choose from a broad range per DOL regulations—nor (2) requires favoring or disfavoring any investment type other than based on risk-return characteristics to suit plan benefits. For self-directed brokerage windows offered as an alternative, the section further (1) prohibits DOL from issuing regulations or guidance constraining available investments, (2) applies ERISA subsection (c) liability protections for participant-directed assets, and (3) exempts their selection or participant use from diversification and prudence requirements.