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Re:GameStop Is Rage Against the Financial Machine by StillBored on Thursday January 28, 2021 @01:03AM (#25938772)
Does the PBGC guard a 401k against loss?

https://www.pbgc.gov/

No didn't think so...

Re:GameStop Is Rage Against the Financial Machine by wutbrodo on Thursday January 28, 2021 @03:25AM (#25939527)
What makes you think the definition of pension is "protected by the PGBC"? The PGBC's website itself specifies:

> 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.

Re:GameStop Is Rage Against the Financial Machine by StillBored on Thursday January 28, 2021 @04:29PM (#25949534)
?

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.

Re:GameStop Is Rage Against the Financial Machine by chrisseaton on Thursday January 28, 2021 @03:18AM (#25939484)
Yes they only cover defined-benefit pensions. They say that they cover ‘pension benefits in private-sector defined-benefit plans’. A 401(k) is a defined-contribution pension so it’s out of their scope.

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?