A 23 year break even point ignoring inflation, investment returns, and the leverage of having additional purchasing power earlier in retirement... Seems like you answered your own question in regards of when to take it.
In my organization we have a defined benefit plan and every so often the question comes up in regards to whether it is better to go into drop and basically take your pension now in a tax deferred account for up to 5 years or continue accruing the additional multiplier (2.72) and higher average end salary the pension is based on after the 5 years and then take a 10 or 25% lump sum based on the actuarial value or just run with the higher benefit. My default response is always that it is better to go into drop and draw the pension instead of building it up because as you already keyed in on the break even part is soooo far out that it isn't worth it. In the 6 or so times I've had this conversation at work the majority of people going into it think it's better to accrue the additional pension time but after they get into the numbers it never is (unless you had a huge promotion and needed the additional time to up the salary average to the new level).
In my organization we have a defined benefit plan and every so often the question comes up in regards to whether it is better to go into drop and basically take your pension now in a tax deferred account for up to 5 years or continue accruing the additional multiplier (2.72) and higher average end salary the pension is based on after the 5 years and then take a 10 or 25% lump sum based on the actuarial value or just run with the higher benefit. My default response is always that it is better to go into drop and draw the pension instead of building it up because as you already keyed in on the break even part is soooo far out that it isn't worth it. In the 6 or so times I've had this conversation at work the majority of people going into it think it's better to accrue the additional pension time but after they get into the numbers it never is (unless you had a huge promotion and needed the additional time to up the salary average to the new level).