Wisconsin Administrative Code
Department of Administration
Chapter Adm 95 - VFF-EMT Service Award Program
Section Adm 95.13 - Program administration
Universal Citation: WI Admin Code ยง Adm 95.13
Current through February 26, 2024
(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.
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