Section ETF 20.20 - Cancellation of application for retirement annuity, separation or lump sum benefit(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.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.