You're in pretty good shape. To be 44 and have two children in college, you must've had children young . . . yet you've avoided debt and paid off your house. That's great.
You say that college is "covered". Does that mean you have the money to pay it, the kids have scholarships, or you're borrowing? As long as you're not borrowing, I think you're in good shape there.
You are "short" on retirement savings, but I don't think that's the end of the world, given the other things you've accomplished. You're not in an ideal situation: That is, you're not in your 20s so that the magic of compound interest can work in your favor for decades . . . but with no debt /no housing expenses, you should be able to make retirement savings a big priority and start squirreling away money in a hurry.
On the other hand, you're "long" on emergency savings. In fact, I'm curious how a family with a 61K income and probably a 24-ish year work history accumulated 308K! Want to share some frugal secrets? I'd say a portion of that savings IS retirement, so -- keeping that in mind -- you're not really behind at all.
I personally don't think it matters all that much WHERE you save; rather, it matters THAT you save. Your husband's 401k is a good savings vehicle. With the kids in college, perhaps you'll be able to pick up more work hours and put that money all towards retirement.
Of course, I don't know the details about his pension, but I'd be a little leery of a pension that isn't supposed to pay off for 15 years. I'm 7 years away, and I'm hoping mine doesn't disappear. I would not make big financial decisions based upon a 15-years from now pension. Hope it'll be available for him, but don't put all your eggs in that basket.