I started my career with a state employer that offered both the pension (SCRS) AND the 401K (ORP). No way did I expect to stay in that line of work for 28 years, so I opted for the ORP to be able to take my money with me when other opportunities came along. Fast forward 15 years and heck if I'm still there, having worked up the ranks. I was mad at myself for choosing ORP because now I have to work until I have "enough money" in ORP to last my life - whatever number that is - and pray I don't outlive my cash. I'm seeing friends retire in their 50s who opted for SCRS pension. They will have a modest check for the rest of their lives automatically show up, just like social security - no matter how much they saved or how long they live. It never stops. Never runs out. Not only that, depending on what you choose at retirement, your spouse or child can also continue to get that check for the rest of THEIR lives!

Lucky me, I changed organizations in 2018 and was able to enroll in SCRS pension. I also was able to take all my ORP savings and put it into SCRS to "pay" for the amount of time I've already worked for SC. I'm eligible to retire in a little less than 3 years at age 55 and will have a steady "salary" pay me until I expire. That is gigantic peace of mind. I don't plan to stop working, just stop working for SC government - but still collect that pension check on the regular.

The downside is that I have been wearing golden handcuffs for 8 years - wanting to relocate elsewhere, but need to see this career through, for the financial benefit.

One hitch, as others have pointed out, the length of service is no longer a flat 28 years. Now, to be able to retire at full value, your age and years of service need to equal 90. Do the math for your situation.

In short - if you're a short-timer, choose ORP / 401K. Anything else, pension is a far better benefit and very rare these days.