Hi y'all, I got offered a job with the State. I'm considering the benefits and apparently they give you the option of switching from a pension to a Defined Contribution plan. Basically, with the pension, you give 8% and they give 15%. If you leave before retirement you can take your contributions plus 3% in interest that it accrues but you can't take the employers contribution. With the DC Plan, they set up a 401k style account where you put in 8% and they put in %15 and it vests over 5 years. That one is portable. As a state employee, you don't receive Social Security so they are basically giving you your SS money too.
What would you do? Why?