Pension plans follow a set of rules that control how much money companies may invest each year in investment funds for employee pensions. These rules have been established by the United States Department of Labor. Pensions benefits follow either a cliff vesting schedule or a graded vesting schedule.nCliff vesting schedule: This schedule allows you to receive 100 percent of the earned benefit at a certain year. For example, if you have a five-year cliff vesting schedule, and you leave your job before your fifth year, you will not be eligible to collect any money. However, if you leave after your fifth year, you will receive 100 percent of the money that you are entitled to based on the pension formula.