A public pension is a retirement plan funded by government entities, designed to provide financial support to employees after they retire. These pensions are typically available to workers in the public sector, such as those employed by state governments, local governments, and federal agencies. The amount received often depends on factors like years of service and salary history. Public pensions are usually funded through a combination of employee contributions and employer funding. They are managed by pension funds, which invest the contributions to grow the assets over time. This system aims to ensure that retirees have a stable income during their retirement years.