The retirement plan of Cosvo Autos Inc. offers cliff vesting to its employees. Which of the following is true in this context?
A. The participants are 100 percent vested after seven years of service.
B. After an initial period of service, the participants becomes vested in an additional 25 percent in each subsequent year.
C. No vesting is provided to the participants during their first five years of service.
D. The participants becomes 20 percent vested after three years of service.
Answer: C
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