1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Being vested in a retirement plan means that you can take the benefit with you when you leave your place of employment.

    Immediate vesting is when you are immediately 100% vested in your plan.

    Cliff vesting is is an either-or type of vesting. If you stay x number years or longer, you get to keep 100% of the money in your retirement plan. If you leave before x number of years, you get none of it.

    Graded vesting allows you to get at least 20% of the money after two years, and fully vested after 7 years or less.
    Answered on July 28, 2013
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