Section Adm 95.13 - Program administration(1) A program administrator awarded a contract to provide a length of service award program shall sign a contract with the department in which the program administrator agrees to do all of the following:(a) Comply with all statutes, rules, and regulations governing the program and share pertinent information, such as municipal contributions and state matching funds, with the department and any other program administrator under contract with the department to ensure compliance with the state and federal law and regulations.(b) Provide the services set forth in s. Adm 95.12(1) (b) and (c).(c) Obtain pre-approval by the department of the mandatory disclosures to participating municipalities set forth in s. Adm 95.12(1) (b) 2.(d) At least annually, provide full disclosure to the department of all fees and commissions earned directly or indirectly on operations of the program by the program administrator, and other financial information relative to a VFF-EMT account maintained by a program administrator, including municipal and state contributions, forfeitures, and disbursements.(e) Provide, at the program administrator's expense, an annual independently audited financial statement of the affiliated entity providing the investment or insurance plan to a participating municipality under the program to the department within 120 days following the end of each calendar year.(f) Submit to the department an acceptable contingency plan to address both data processing systems failures and administrative service interruptions.(g) Upon request, provide a copy of the fund prospectus and annual report for each investment option offered by the program administrator to participating municipalities and enrolled VFF-EMT participants.(h) Cooperate with other program administrators to provide for service credit portability between program administrators under s. Adm 95.09.(i) At least annually, provide statements to participating municipalities and enrolled VFF-EMT participants detailing contributions made on behalf of a VFF-EMT by a participating municipality, account balance information, and disclosure of all fees, commissions, and charges affecting that account's earnings or balances.(j) Provide an annual report to all participating municipalities, VFF-EMT participants and the department illustrating the investment performance of all investment options offered.(k) Cooperate with any successor program administrator, including extending the term of the contract for a reasonable period of time as may be necessary, to ensure a smooth transition of program administrators.(l) Provide opinions of tax counsel or other legal counsel to the department as necessary.(m) Provide a set of procedures to the department and participating municipalities under contract with the program administrator, detailing the steps that a participating municipality must take when terminating its participation in the program.(2) The program administrator, its agents, and the investment options offered, shall meet all applicable state and federal laws, rules and regulations including the internal revenue code, security and exchange commission regulations, and state and federal insurance laws and regulations.Wis. Admin. Code Department of Administration Adm 95.13
Renumbered from VFF-EMT 1.13, corrections in (1) (intro.), (a), (c), (f), (j), (L), (m) made under s. 13.92(4) (b) 6, Stats., corrections in (1) (b), (c), (h) made under s. 13.92(4) (b) 7, Stats., Register December 2015 No. 720, eff.1/1/2016