re: When do you value pension benefit vs pay?

Never, personally. Does the other option not have a company retirement plan?

A pension plan is simply a company contribution to a retirement plan that is owned by the company. It is a liability for the employer they contribute to but own the assets inside of the plan.

Personal retirement plans are owned by the employee. The contribution from the employee can be the same, less, or more. But it’s an owned by the employee at death.

Both plans can be calculated as a percentage of salary/ value. So that’s the best way to ‘e-value-ate”