> PBGC is a federal agency created by the Employee Retirement Income Security Act of 1974 (ERISA) to protect pension benefits *in private-sector defined-benefit plans*
Which means by implication that there are pensions in non-defined-benefit plans (ie defined-contribution, like 401ks). Also note that this quote indicates the PGBC doesn't protect public-sector pension plans, which means your logic leads to the ludicrous conclusion that public-sector pensions are somehow not pensions.
This level of confidence combined with this level of ignorance is not a good look.
Whats the difference between a government backed pension guarantee and a government pension?
I think your misunderstanding the purpose of the PGBC, particularly if you consider the state of things when it was founded.
But so what they don’t cover it? Why does that make it less of a pension? Government pensions also aren’t covered by it. Are they not pensions as well?
https://www.pbgc.gov/
No didn't think so...