,,ii  #aagth ,,congress  #b;d ,session  
,s4 #dadg  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #e1       
#bjbb,mr4 ,tuberville introduced the    
following bill2 which was read twice and
 referred to the ,committee on ,health1 
,education1 ,labor1 and ,pensions  ,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
 accounts4  #a4 ,short title ,this ,act 
may be cited as the ,financial ,freedom 
,act of #bjbb4  #b4 ,fiduciary duties   
with respect to pension plan investments
 ,section #djd7;a7 of the ,employee     
,retirement ,income ,security ,act of   
#aigd 7#bi ,u4,s4,c4 #aajd7;a77 is      
amended by adding at the end the        
following3  7#c7 7,a7 ,in the case of a 
pension plan that provides for          
individual accounts and permits a       
participant or beneficiary to exercise  

control over the assets in the          
participant's or beneficiary's account1 
nothing in paragraph 7#a7-- 7i7 requires
 a fiduciary to select1 or prohibits a  
fiduciary from selecting1 any particular
 type of investment alternative1        
provided that a fiduciary provides the  
participant or beneficiary an           
opportunity to choose1 from a broad     
range of investment alternatives1 the   
manner in which some or all of the      
assets of the participant's or          
beneficiary's account are invested1     
according to regulations prescribed by  
the ,secretary2 or  7ii7 requires that  
any particular type of investment be    
either favored or disfavored1 other than
 on the basis of the investment's       
risk-return characteristics1 in the     
context of the plan fiduciary's         
objective of providing investment       
alternatives suitable for providing     
benefits for participants and           
beneficiaries4  7,b7 ,in the event that 
a fiduciary selects a self-directed     

brokerage window as an investment       
alternative for a plan described in     
subparagraph 7,a7-- 7i7 the ,secretary  
shall not issue any regulations or      
subregulatory guidance constraining or  
prohibiting the range or type of        
investments that may be offered through 
such brokerage window2  7ii7 subsection 
7c7 shall apply to such self-directed   
brokerage window2 and  7iii7 the        
diversification requirement of paragraph
 7#a77;,c7 and the prudence requirement 
of paragraph 7#a77;,b7 are not violated 
by the fiduciary's selection of a       
self-directed brokerage window as an    
investment alternative or as a result of
 the exercise of a participant or       
beneficiary's control over the assets in
 such self-directed brokerage window4  4