Colloquially in the US pension fund == defined benefit plan managed by your employer. A public pension would be managed by the government for governmental emplo

Colloquially in the US pension fund == defined benefit plan managed by your employer. A public pension would be managed by the government for governmental employees & a private pension would be managed by a private company for its employees. Defined benefit pensions largely only exist in the public sector in the US because they are phenomenally expensive. The reason public employees don’t want to switch is that these are huge perks.