A 2% floor is only there if they can negotiate it. Also, the 2% floor that the VB plan modeler is using is capping earnings for that 2% floor at the IRS 401(a)(17) limits, the same limit that effects the DC plan. So, if they lower that limit, you still get 2%, but that 2% is less once you reach that limit.

Yes, there could be gaping loopholes. It is math, but remember, figures lie and liars figure, just ask the retirees that got their vacation buyback on December 31 instead of January 1 how loopholes effect the math.