And never, ever own real estate that they can tax in NY.
Three advantages for defined benefit plans:
A company can invest more aggressively than an employee, because the risk is spread over more lives and more years. It can get a higher rate of return and provide a bigger benefit.
Suppose you've got a lump sum when you hit retirement age. How much should you spend in the first year? Unless you know how much you're going to earn and when you're going to die, you will either spend too much or too little. With a defined benefit plan's annuity, you know how much you're going to get. You are not exposed to investment or longevity risk.
Finally, if you are one of the lucky ones to stay with a company for a long time, a defined benefit plan will provide a larger benefit. Most plans apply your final average pay (or the current dollar benefit) to all your years of service. A defined contribution plan applies each year's pay to each year's contribution.