Employer Switching from 401K Match to Retirement Benefit Account Pension

So it's that time of year for benefits to get changed for next year. The only major change my employer is introducing is a move from a 401K w/ 5% match to a Retirement Benefit Account (RBA) Pension with a 5% employer contribution.

I never thought I'd be dealing with a switch to a Pension Plan and unfamiliar with how this impacts our future. So far it seems like a fairly minor change. I changed jobs early this year and the 401K benefit was going to start in April when I hit 1 year. Now when April comes I'll have the RBA benefit turned on instead.

Wife and I's current retirement plan is a mix of real estate and retirement accounts. I have been maxing my 401K for most of my career. We also have a smaller ROTH IRA that gets our leftover savings, but typically not maxed out. Turned 39 this year and we are tracking towards a Barista FIRE around age 50, so about 10 more years of saving.

A few things I'm unsure about and would appreciate some guidance:

• How does this switch impact taxes vs the 401K?
• Should I consider any adjustments to our retirement savings?
• Plan allows for an annuity distribution that can be taken immediately, rolled over, or annuity deferred to 65. Is there any scenario where it makes sense to take the distribution early?
• How to estimate annuity payments? We have been provided a calculator that estimates a total balance at our projected retirement date. Using 10 years from my benefit date (April '24) with no raises, it estimates $170K balance. 15 more years of interest would make a big difference, but it's also 15 years of distributions missed.

I'm mostly concerned with calculating distribution. In our scenario, we would already be waiting for SS, IRA, and my wife's State Pension. From about 50 to 65 we'll be working part time and getting income from rent to pay the bills and enjoy more of life. Taking the annuity immediately gives us more flexibility in that period.

I'm wondering if anyone else has gone through a change like this and if there's anything I might be overlooking or assuming incorrectly? Help!