[campbellcj]

IMO the main problems in these plans is not necessarily the defined benefit concept itself, rather the companies that are underfunding them, or hanging onto poorly designed plans based on unrealistic rates of return in conjunction with the employer's inability to keep up with the contributions required to keep the trust's assets in line with its liabilities.

When judiciously used, like in the case of my (very small) business, they can work out nicely in terms of tax advantage and very high contribution limits. Since we are private, we can basically amend, freeze or unfreeze the plan as needed. I believe you can also have a defined contribution plan, IRA, etc. and pump funds into whichever makes the most sense for a particular (tax year) situation. Looking to explore that further in the near future...