A bill 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.

4/2/2025, 10:56 AM

Summary of Bill S 1222

Bill 119 s 1222, also known as the "Individual Retirement Account Investment Freedom Act," aims to prevent the Secretary of Labor from restricting the options available to individuals who have control over their own individual retirement accounts (IRAs). This bill seeks to ensure that participants and beneficiaries of IRAs have the freedom to choose from a wide range of investment opportunities without government interference.

The bill specifically prohibits the Secretary of Labor from imposing limitations on the types or range of investments that can be offered to individuals who have control over their IRA assets. This means that individuals will have the ability to make investment decisions based on their own preferences and financial goals, without being restricted by government regulations.

By allowing individuals to have greater control over their IRA investments, supporters of the bill argue that it will promote financial independence and empower individuals to make informed decisions about their retirement savings. Critics, however, may argue that removing government oversight could potentially expose individuals to greater risks and volatility in their investments. Overall, Bill 119 s 1222 seeks to protect the rights of individuals to manage their own retirement savings and make investment choices that align with their personal financial objectives.

Current Status of Bill S 1222

Bill S 1222 is currently in the status of Bill Introduced since April 1, 2025. Bill S 1222 was introduced during Congress 119 and was introduced to the Senate on April 1, 2025. Bill S 1222's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of April 1, 2025

Bipartisan Support of Bill S 1222

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1222

Primary Policy Focus

Alternate Title(s) of Bill S 1222

A bill 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.A bill 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.

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