It seems to me that the employer will fund it either way. Maybe I’m misremembering stories of pensions being mismanaged and lost. I think the most important thing is that the employer actually does something to fund a retirement, in my way of thinking the 401k approach puts me in control of the money so I don’t rely on someone else to not fail.
Whether it’s promised bonuses, stocks, or retirement funds, my motto is always “show me the money”, and I’ll believe it when it’s in my hands.
Diversity, my friend. What will you do if the 401k doesn’t come through like you want? Bear in mind that the ultra rich and the big banks employ people who are really good at investing money. They have more experience and information than you. They’ll bail themselves, but not you, out in case of disaster.
“Show me the money” is not a good motto for long term savings. Inflation or poor investment can make that money disappear easily enough. Of course you don’t want to get scammed, so oversight is a good idea.