Reacting to President-elect Donald Trump's decision to appoint fast food executive Andrew Puzder as secretary of the Department of Labor, the benefits industry says his anti-regulation background is likely to be good for business oweners. But labor experts also say they know little about how Puzder will handle the fiduciary rule.
Puzder, chief executive of CKE Restaurants, the parent company of Hardee’s and Carl’s Jr. restaurants, has been very vocal on his blog and in the media about his pro-business, anti-government regulation stances — but he has not mentioned retirement or the fiduciary rules in any of his past comments. A financial backer and supporter of Trump, Puzder believes that many of President Barack Obama’s pro-labor initiatives, including the Affordable Care Act and new overtime rules — which were set to go into effect this year but were put on hold — should be repealed because they would force employers to cut jobs. He also is against raising the minimum wage.
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