Brian Rich said that, as a businessman, he understands that pension plans for state and school employees are financially unsustainable in their present form, so pension reform is the cornerstone of his campaign for the state Senate.
The plans need to be shifted to an IRA or 401(k) plan like those used by businesses, Rich said.
He is seeking the Republican nomination in the April 24 primary election for a four-year term in the 29th Senatorial District.
The seat is held by Sen. David G. Argall, a Schuylkill County Republican who is seeking re-election.
Rich said, if elected, he wouldn't take a pension and would limit himself to two terms.
The defined-benefit plans provide retirement payments based on years of service and wages.
"Bethlehem Steel is gone because of defined-benefit programs," Rich said. "It's the same problem General Motors had. We need to tackle that issue and simply bring some parity between the public sector and the private sector in terms of what expectations are."
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