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 Emplo

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.