(1) Any separation, retirement or lump sum
benefit payment application canceled pursuant to this section shall have no
force or effect, and any subsequent application shall be treated as a new
application. Repayment in full of any sum paid under the application for which
cancellation is sought shall be required. The employer may not make this
payment on behalf of the recipient of the benefit.
(2) A request to cancel an application under
this section shall be in writing. The request to cancel shall be rejected
unless received by the department by the close of regular office hours on the
last working day prior to the applicable deadline under sub. (3) or (4). If the
deadline specified under sub. (3) or (4) falls on a Saturday, Sunday or holiday
under s.
230.35(4) (a), Stats., the request to cancel shall be
timely only if received in the department by the close of regular office hours
on the last working day preceding the Saturday, Sunday or holiday.
Example: If the date the account will be debited
in response to the application falls on a Monday which is not a holiday, then
the request to cancel must be received by the department no later than 4:30
p.m. on the preceding Friday, the last working day prior to the debiting date.
If that Monday were a holiday, the debiting date would be Tuesday, the next
working day as provided by s.
ETF 10.633(3), but the deadline for
cancelling the application would remain Friday, the last working day preceding
the debiting date.
(3) An
application for a separation benefit under s.
40.25(2),
Stats., shall be canceled if:
(a) The
applicant's written request for cancellation is received by the department no
later than the close of the department's regular office hours on the last
working day before the participant's account in the employee accumulation
reserve is debited for funding the benefit as provided by s.
ETF 10.633(1) (c).
(b) The applicant becomes a participating
employee within 30 days after the application was received by the
department.
(c) The applicant dies
prior to the date of the separation benefit check.
(4) An application for a retirement annuity
under s.
40.23 or
40.24, Stats., or
s.
ETF 20.04, or a lump sum payment under s.
40.25(1) or (4), Stats., shall be canceled if the
participant's written request for cancellation is received by the department no
later than the close of the department's regular office hours on the last day
before the participant's account in the employee accumulation reserve is
debited for funding the benefit as provided by s.
ETF 10.633(1) (a) or (c) for retirement
annuities or lump sum payments, respectively.
Notes
Wis. Admin. Code Department of Employee Trust Funds
ETF 20.20
Cr. Register, April,
1983, No. 328, eff. 5-1-83; am. (3) (intro.), Register, October, 1992, No. 442,
eff. 11-1-92; am. (1), (2), (3) (intro.) and (a) and (4), Register, January,
1996, No. 481, eff. 2-1-96; correction in (3) (intro.) made under s. 13.93(2m) (b) 7, Stats., Register, July, 1999, No.
523.
