Wisconsin Administrative Code › Department of Administration › Chapter Adm 95 - VFF-EMT Service Award Program › Section Adm 95.13 - Program administration

Current through June 24, 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.