For one it acknowledges that 401(k)s put 100% of the risk on the employee – and he proposes a hybrid. I’m fine with that.
It also specifically addresses spiking and bases pension on regular pay (no overtime/bonuses in the calculations)…
I joined this thread because you keep saying that everyone should be on 401ks – that pensions are bad. I tried to point out the risk of that.
This proposal acknowledges the risk of 401(k) only being entirely born by the employee and mitigates it by keeping defined benefit pensions as part of the plan.