One fact: retirement means less money and assumes we've paid off our mortgage when our 55 year old carcass gets pastured.
Tier II and III don't receive free medical. If the medical benefits are chosen, the expense is deducted from their monthly stipend and is fairly competitive, albeit prior to ACA.
I agree the old Tier I with free Medical is pretty sweet, but Spousal Survivor Benefits, Long Term Care and Dental/Vision/Audio coverages are extra benefits with these expenses deducted monthly.
Take note, all pension Medical only covers from age 55 to 65 whereupon Medicare has to be purchased taking lead payer of 80% and free Tier I Medical (and II and III if purchased) take backseat and cover only the remaining 20%.
A man's death is the curtain call for pensions. The Spousal/LTC/DVA insurance payments are 3 separate and extra coverages that kick in upon death of the primary retiree, then state is free from any further obligation at this time.
Hence why Senior Centers are 80% female.