I know most companies don't offer pensions anymore, but for myself one of the main reasons I have been with the same company for almost 30 years is that I will be drawing on a very significant pension benefit when I retire in several years. My pension benefit is probably worth more than my 401K that I have built up. So when considering net worth pensions need to be accounted for. There are probably other things too that are missing in the calculations, but pensions is a big one for me.