Puzder, chief executive of fastfood group CKE Restaurants, has been a vocal opponent of what he has called "overregulation" during the Obama administration. The 401(k) plans he offers his own employees are less generous than some rivals, suggesting a more industry-friendly approach.
While the Labor Secretary cannot unilaterally repeal a rule, his agency can rewrite and change a rule substantially or scrap it.
William Galvin, the top securities regulator in Massachusetts, described Trump's order as "reckless."
"My office will continue to protect small investors when those in Washington cave to big business."
Not all proponents of the rule were as pessimistic.
"There's no question that in the minds of industry lobbyist, delay is just a step toward repeal," said Barbara Roper, investor protection director for the Consumer Federation of America (CFA). "If the Department of Labor follows an honest process and considers the impact on retirement savers, we have a winning argument."
This article was provided by Reuters.