40.05(6)(e)
(e) Each employer shall contribute toward the payment of premiums under this section an amount which, together with the employe's contribution, will equal the gross monthly premium determined by the group insurance board for the employe's insurance and any employer may pay for all employes any part or all of the premium required to be paid by employes under
par. (a). If an employer elects to pay the entire premium for all of its employes for one or more of the types of insurance coverage established under
s. 40.03 (6) (b) or
40.70 (3), a resolution shall be filed with the department. Applications shall be filed and premiums paid for any eligible employes, including those not previously insured under coverage selected by the employer, effective the first day of the month following receipt of the resolution or the effective date of the election, whichever is later, and full payment of premiums for the employes shall be due the department pursuant to the contractual requirements between the group insurance board and the insurer. If an employer elects to pay the entire premium for a portion of its employes, notice is not required and previously filed cancellations are not revoked.
40.05(7)
(7) Other insurance plans premiums. For any group insurance plans provided under
s. 40.03 (6) (b) the entire premium shall be paid by employe contributions and there shall be no employer contributions unless the employer specifically provides otherwise.
40.05(8)
(8) Employe-funded reimbursement account plan fee. For the administration and implementation of employe-funded reimbursement account plans authorized under
subch. VIII, each state agency with employes eligible to participate in an employe-funded reimbursement account plan shall contribute the fee charged under
s. 40.875 (1) (a).
40.05 History
History: 1981 c. 96,
274,
278,
386;
1983 a. 9 s.
6;
1983 a. 27,
30;
1983 a. 46 ss.
2 to
4,
7;
1983 a. 140;
1983 a. 141 ss.
7 to
12,
20;
1983 a. 290,
504,
538;
1985 a. 29,
119,
135,
225;
1987 a. 27,
83,
107,
309,
356,
363;
1987 a. 403 s.
256;
1989 a. 13,
14,
31,
119,
122,
166,
182,
189,
230,
336,
355,
359;
1991 a. 32,
39,
107,
113,
141,
152,
189,
269;
1995 a. 27,
81,
88,
89,
240,
302; s. 13.93 (2) (c).
40.05 Annotation
A union request that the county make pension contributions for jailers, equal in amount to those for its "protective occupation participants" under s. 40.02 (48) did not require reclassification of the jailers as "POPS", is allowed under sub. (2) (g) 1. and is a mandatory subject of bargaining under s. 111.70 (1) (a). County of LaCrosse v. WERC, 180 W (2d) 100, 508 NW (2d) 9 (1993).
40.06
40.06
Reports and payments. 40.06(1)(a)(a) Except as otherwise provided by rule or statute, the employe contributions and premium payments specified in
s. 40.05 shall be deducted from the earnings of each employe and from the annuity (if sufficient) of each insured retired employe and transmitted to the department, or an agent specified by the department, in the manner and within the time limit fixed by the department together with the required employer contributions and premium payments and reports in the form specified by the department. Notwithstanding any other law, rule or regulation, the payment of earnings less the required deductions shall be a complete discharge of all claims for service rendered during the period covered by the payment.
40.06(1)(b)
(b) Each employer shall withhold the amounts specified from any payment of earnings to an employe whose status as a participating or insured employe has not yet been determined under
s. 40.22 (1) and shall refund the amount withheld directly to the employe if it is subsequently determined that the employe does not qualify as a participating or insured employe.
40.06(1)(c)
(c) For state agencies, contributions paid by employers shall be made from the respective funds from which the salaries are paid to the employe for whom the contributions are being made. The heads of the respective state agencies shall, at the time that salary deductions in accordance with
par. (a) are sent to the department, determine the amount of the corresponding employer contributions, indicate the amount of the contribution on the report submitted to the department and provide for payment to the department, by any method approved by the department, from the appropriate state funds of the amounts payable. If payment is by voucher, the department shall transmit the voucher to the department of administration. The department of administration shall approve vouchers for payment of contributions due under
s. 40.05 within 5 working days,
s. 16.53 (10) notwithstanding, and the state treasurer shall immediately issue a check, share draft or other draft to the department of employe trust funds for the amount of the voucher.
40.06(1)(d)
(d) Each participating employer and, subject to
par. (dm), each state agency shall notify the department in the manner and at the time prescribed by the department, of the names of all participating employes classified as protective occupation participants determined in accordance with
s. 40.02 (48) or classified as teacher participants in accordance with
s. 40.02 (55) or other classification as specified by the department.
40.06(1)(dm)
(dm) Each determination by a department head regarding the classification of a state employe as a protective occupation participant shall be reviewed by the department of employment relations. A state employe's name may not be certified to the fund as a protective occupation participant under
par. (d) until the department of employment relations approves the determination.
40.06(1)(e)1.1. An employe may appeal a determination under
par. (d), including a determination that the employe is not a participating employe, to the board by filing a written appeal with the board. An appeal under this paragraph does not apply to any service rendered more than 7 years prior to the date on which the appeal is received by the board. The board shall consider the appeal and mail a report of its decision to the employe and the participating employer or state agency.
40.06(1)(e)3.
3. A determination of an employe's status under
par. (d) made after an appeal is decided under this paragraph shall remain in effect until receipt by the department of a notification indicating a classification for the employe different from the determination. The employe may appeal that subsequent determination by filing an appeal as required under this paragraph.
40.06(1)(em)
(em) The department may review any determination by a participating employer to classify an employe who is not a state employe as a protective occupation participant and may appeal the determination to the board by filing a written notice of appeal with the board. The determination by the employer shall remain in effect until the department receives a written notification from the board indicating a classification for the employe that is different from the employer's determination.
40.06(2)(a)(a) If any employer fails to transmit to the department any report required by law or by rule before the end of the calendar month following the date when the report is due, the department shall prepare the report and submit to the employer a statement of the expenses incurred in securing the report, including the value of the personal services rendered in its preparation. The department shall file duplicates of the statement with the department of administration.
40.06(2)(b)
(b) Within 30 days after the receipt of the statement under
par. (a) by the employer the statement shall be audited as other claims against the employer are audited and shall be paid into the state treasury and credited to the appropriation under
s. 20.515 (1) (w).
40.06(2)(c)
(c) If the employer defaults on payment of the amount specified in the statement under
par. (a), the amount shall become a special charge against the employer and shall be included in the next certification of state taxes and charges and shall be collected, with interest as provided in
sub. (3) from the date the statement was submitted to the employer, as other charges are certified and collected, or collected as provided under
sub. (4). When the amount and the interest are collected, they shall be credited to the appropriation under
s. 20.515 (1) (w).
40.06(3)
(3) Interest shall be charged on accounts receivable from any employer if the remittance and any corresponding report are not received by the department in the manner and within the time limit fixed by rule or statute at the rate of 0.04% for each day, from the due date to the date received by the department with a minimum charge of $3, and the interest or minimum charge shall be paid immediately to the department. If the amount is not paid within 30 days after it is payable, the amount shall be collected as provided under
sub. (4).
40.06(4)(a)(a) Whenever any employer, other than the state, fails to pay to the department any amount due, the department shall certify the amount or the estimated amount to the department of administration which shall withhold the amount or the estimated amount from the next apportionment of state aids or taxes of any kind payable to the employer or, if so directed by the department, collect the amount as provided in
sub. (2) (c) and shall pay the amount so withheld or collected to the department. When the exact amount due is determined and the department receives a sum in excess of the exact amount, the department shall pay the excess amount to the employer from whose aid the excess was withheld.
40.06(4)(b)
(b) Whenever any amount is payable by a department or agency of the state, the department shall certify the amount payable with an explanation of the charge, together with a voucher in payment for the amount to the department of administration which shall immediately approve the voucher and within no more than 5 days, notwithstanding
s. 16.53 (10), make payment from the appropriation of the department or agency which failed to transmit the payment on time.
40.06(5)
(5) Whenever it is determined that contributions and premiums were not paid in the year when due, the amount to be paid shall be determined at the employe and employer contribution or premium rates in effect when the payment should have been made and increased by interest at the effective rate which would have been credited if the amount had been paid and deposited in the accumulation reserves of the fixed annuity division under
s. 40.04 (4) and
(5) at the time the contributions or premiums were due. The employer shall collect from the employe the amount which the employe would have paid if the amounts had been paid when due, plus the corresponding interest, and shall transmit the amount collected to the department together with the balance of the amount to be paid, or the employer may elect to pay part or all of the employe amounts.
40.06(6)
(6) Notwithstanding
ss. 16.52 (2) and
40.02 (22) (a), fiscal year coding adjustments may be made for contributions received after August 1 for earnings paid for services rendered in the previous fiscal year, so that the amount of the contributions received and earnings paid are substantially reflected in the annual earnings period to which they apply.
40.06(7)
(7) Within 30 days after receipt of a qualified domestic relations order or of a written request from the department pursuant to a qualified domestic relations order, a participating employer shall submit to the department a report, in the form specified by the department, of the earnings, service and contributions of the participant named in the order. The report shall include all earnings paid to and all service and contributions of the participant through the day before the decree date that have not previously been reported to the department.
40.06 Annotation
The statute of limitations under sub. (1) (e) 1. cannot be applied to have the effect of extinguishing pension rights established prior to its enactment without providing the plan participant with fair notice of the change and fair opportunity to preserve the claim. Dicks v. Employe Trust Funds Board, 202 W (2d) 704, 551 NW (2d) 845 (Ct. App. 1996).
40.07(1)(1) Notwithstanding any other statutory provision, individual personal information in the records of the department is not a public record and shall not be disclosed, unless:
40.07(1)(a)
(a) The information is requested by the person whose record contains the information or by the duly authorized representative of the person;
40.07(1)(b)
(b) The information is requested by a public employe for use in the discharge of the employe's official duties;
40.07(1)(c)
(c) The information is required to be disclosed under a court order duly obtained upon a showing to the court that the information is relevant to a pending court action; or
40.07(1)(d)
(d) The information is required to be disclosed for the proper administration of the department or to assist in locating participants or beneficiaries the department is otherwise unable to contact.
40.07(2)
(2) Notwithstanding
sub. (1) medical records may be disclosed only when a disability application denial is appealed or under a court order duly obtained upon a showing to the court that the information is relevant to a pending court action but medical information gathered for any one of the benefit plans established under this chapter may be used by any other benefit plan established under this chapter.
40.07(3)
(3) The department shall not furnish lists of participants, annuitants or beneficiaries to any person or organization except as required for the proper administration of the department.
40.07 History
History: 1981 c. 96.
40.08
40.08
Benefit assignments and corrections. 40.08(1)(1)
Exemptions. The benefits payable to, or other rights and interests of any member, beneficiary or distributee of any estate under any of the benefit plans administered by the department, including insurance payments, shall be exempt from any tax levied by the state or any subdivision of the state and shall not be assignable, either in law or equity, or be subject to execution, levy, attachment, garnishment or other legal process except as specifically provided in this section. The exemption from taxation under this section shall not apply with respect to any tax on income.
40.08(1m)(a)(a) Notwithstanding
sub. (1), a participant's accumulated rights and benefits under the Wisconsin retirement system shall be divided pursuant to a qualified domestic relations order only if the order provides for a division as specified in this subsection.
40.08(1m)(b)
(b) The creditable service and the value of the participant's account that are subject to division on the decree date shall be equal to one of the following:
40.08(1m)(b)1.
1. The creditable service and the dollar amounts credited to all parts of the participant's account through the day before the decree date, if the participant is not an annuitant on the decree date.
40.08(1m)(b)2.
2. The present value of the annuity being paid if the participant is an annuitant.
40.08(1m)(c)
(c) The present value of the annuity specified in
par. (b) 2. shall be computed in accordance with the actuarial tables then in effect and shall consider the number of remaining guaranteed payments, if any. If the participant is an annuitant who is not receiving an annuity from all parts of the participant's accounts, then
par. (b) 1. applies to those parts of the account from which the annuity is not being received.
40.08(1m)(d)
(d) The amount computed under
par. (b) shall be divided between the participant and the alternate payee in the percentages specified in the qualified domestic relations order. The participant shall have no further right, interest or claim on that portion of the participant's creditable service and account balances or annuity amount allocated to the alternate payee.
40.08(1m)(e)
(e) The alternate payee share of the amount computed under
par. (b) shall be distributed to the alternate payee or, in the case of an individual adjudged mentally incompetent, to a named guardian under
sub. (9), as follows:
40.08(1m)(e)1.
1. The creditable service and amounts computed under
par. (b) 1. shall be transferred to a separate account in the name of the alternate payee.
40.08(1m)(e)2.
2. Except as provided in
subds. 3. and
4., the control and ownership rights of the alternate payee over his or her share of the account shall be the same as if the alternate payee were a participant who had ceased to be a participating employe but had not applied for a benefit under
s. 40.23 or
40.25 on the decree date or the date that the participant terminated covered employment, whichever is earlier.
40.08(1m)(e)3.
3. If
par. (b) 1. applies and the effective date of the alternate payee's benefit is after the date that the participant would have met the age requirement for a retirement annuity under
s. 40.23, the benefits for the alternate payee shall be determined under
s. 40.23. The alternate payee's benefits shall be computed using the participant's final average earnings on the first day of the annual earnings period in which the alternate payee's annuity is effective. If the effective date of the alternate payee's benefit is before the date that the participant would have met the age requirement for a retirement annuity under
s. 40.23, the alternate payee's benefits shall be determined under
s. 40.25 (2).
40.08(1m)(e)4.
4. An alternate payee, who elects an annuity option, may only elect among the options under
s. 40.24 that provide payments that are calculated only on the basis of the age of the alternate payee.
40.08(1m)(f)
(f) After division of the participant's account under
par. (b), the account and any benefits payable shall be adjusted as follows:
40.08(1m)(f)1.
1. If the participant is not an annuitant on the decree date, an amount equal to the total of the alternate payee share distributed under
par. (e), including creditable service, shall be subtracted from the participant's account.
40.08(1m)(f)2.
2. If the participant is an annuitant on the decree date, the annuity shall be recomputed using the total value of the participant's account determined under
par. (b) reduced by the total of the alternate payee share transferred under
par. (e) 1., in accordance with the actuarial tables in effect and using the participant's age on the decree date. The decree date shall be the effective date of recomputation. If the optional annuity form before division of the participant's account under
par. (b) was not a joint and survivor annuity with the alternate payee as the named survivor, the same annuity option with no change in the remaining guarantee period, if any, shall be continued upon recomputation to the participant. The present value of the alternate payee's share of the annuity after division shall be paid to the alternate payee as a straight life annuity based on the age of the alternate payee on the decree date. The alternate payee's annuity shall have the same remaining guarantee period, if any, as the participant's annuity. If the optional annuity form before division of the participant's account under
par. (b) was a joint and survivor annuity with the alternate payee as the named survivor, the present value of the annuity after division shall be paid to both the participant and the alternate payee as a straight life annuity based upon their respective ages on the decree date. If the participant's account is reestablished under
s. 40.26 (2) after the decree date, the memorandum account created under
s. 40.26 (2) (b) shall be adjusted by the total of the alternate payee share computed under this subdivision. If the participant's account is reestablished under
s. 40.63 (10) after the decree date, the amounts and creditable service reestablished shall be reduced by an amount equal to the percentage of the alternate payee share computed under this subdivision.
40.08(1m)(g)
(g) If
par. (b) 1. applies, eligibility for benefit rights that are available only after attainment of a specified length of service shall be determined based on the service that would have been credited, if the account had not been divided under this subsection, to the participant's account on the effective date of the participant's benefit and on the effective date of the alternate payee's benefit for purposes of determining the participant's and alternate payee's benefit rights, respectively. However, no creditable service may be added to the alternate payee's account under this paragraph, and the participant shall not receive creditable service under this paragraph, for any service that has been transferred to the alternate payee's account. This paragraph applies only if all eligibility requirements, other than length-of-service requirements, for the benefit rights being established have been met.
40.08(1m)(h)
(h) Notwithstanding
pars. (b) to
(g), if the participant is both an annuitant and is receiving a benefit under
s. 40.65 that is effective on or before the decree date, the adjustments specified in
s. 40.65 (5) (b) 4. shall be computed as though the participant's account had not been divided.
40.08(1m)(i)
(i) The department, its employes, the fund and the board are immune from any liability for any act or omission under this subsection in accordance with a qualified domestic relations order and may not be required to take any action or make any notification as part of the exercise of ownership rights granted under this subsection.
40.08(1m)(j)
(j) This subsection applies to qualified domestic relations orders issued on or after April 28, 1990, that provide for divisions of the accumulated rights and benefits of participants whose marriages have been terminated by a court on or after April 28, 1990.
40.08(2)
(2) Insurance premiums. Insurance premiums shall be deducted from annuities for group insurance benefit plans as provided in
s. 40.05 and, with the written consent of the annuitant, for premiums for group life and health insurance plans provided by the city of Milwaukee to former Milwaukee teachers if the annuity is sufficient.
40.08(3)
(3) Waivers. Any participant, beneficiary or distributee of any estate may waive, absolutely and without right of reconsideration or recovery, the right to or the payment of all or any portion of any benefit payable or to become payable under this chapter. The waiver shall be effective on the first day of the 2nd month commencing after it is received by the department or on the date specified in the waiver if later.
40.08(4)
(4) Retention of payments. Unless voluntarily repaid and except as limited by
sub. (10), the department may retain out of any annuity or benefit an amount as the department in its discretion may determine, for the purpose of reimbursing the appropriate benefit plan accounts for a balance due under
s. 40.25 (5) or for any money paid, plus interest at the effective rate of the fixed annuity division, to any person or estate, through misrepresentation, fraud or error. Upon the request of the department any employer shall withhold from any sum payable by the employer to any person or estate and remit to the department any amount, plus interest at the effective rate of the fixed annuity division, which the department paid to the person or estate through misrepresentation, fraud or error. Any amount, plus interest at the effective rate, not recovered by the department from the employer may be procured by the department by action brought against the person or estate.
40.08(5)(a)(a) Whenever any sum becomes due to the department from any recipient as the result of incorrect or incomplete reporting by an employer and the sum cannot be recovered from the recipient, then the employer shall be charged with the sum.
40.08(5)(b)
(b) Any amount determined to be due under this subsection shall be due with the next payment by the employer under
s. 40.06 and shall be subject to the penalties and collection procedures provided in
s. 40.06 if not paid when due.
40.08(6)(a)(a) Notwithstanding
s. 20.913, but subject to
par. (b), the department may refund any money paid in error to the fund by or on behalf of a person who is not a participant.
40.08(6)(b)
(b) The department may not refund any money paid into the fund by an employer, but shall by rule credit the money to the employer.
40.08(6)(c)
(c) Except as provided in
par. (d), money paid into the fund by an employer on behalf of a participant which exceeds the contribution limits under
s. 40.32 may not be refunded to the employer, but the department shall by rule credit the money to the employer and the employer shall pay the participant the amount of the credit as additional wages or salary.
40.08(6)(d)
(d) Money paid into the fund by a participant which exceeds the contribution limits under
s. 40.32 may be refunded directly to the participant if the department determines that the money was paid on an after-tax basis.
40.08(6)(e)
(e) No interest may be credited to any money refunded under this subsection.
40.08(7)
(7) Overpayments and underpayments. 40.08(7)(a)(a) Any overpayment or underpayment of a lump-sum payment under
s. 40.25 or a death benefit which is less than 60% of the amount specified in
s. 40.25 (1) (a) rounded to the next highest dollar amount, and any annuity payment error which is less than $2 per month may not be corrected but shall be credited or debited to the employer accumulation reserve or the appropriate insurance account. However, if the amount of unapplied additional contributions would increase an annuity payment by less than $2 but is more than 60% of the amount specified in
s. 40.25 (1) (a) rounded to the next highest dollar amount, the unapplied additional contributions shall be paid to the annuitant as a lump sum.
40.08(7)(b)
(b) Any overpayment exceeding the limits in
par. (a) to a person who cannot be located or which proves to be uncollectible and any underpayment exceeding the limits in
par. (a) to a person who cannot be located may be written off 2 years after the underpayment or overpayment is discovered and credited or debited to the employer accumulation reserve or the appropriate insurance account.
40.08(7)(c)
(c) If an annuity underpayment exceeding the limits in
par. (a) has not been corrected for at least 12 months, the payment to the annuitant to correct the underpayment shall include 0.4% interest on the amount of the underpayment for each full month during the period beginning on the date on which the underpayment occurred and ending on the date on which the underpayment is corrected.
40.08(8)(a)(a) Benefits provided under this chapter shall be considered abandoned as follows:
40.08(8)(a)1.
1. Any potential primary beneficiary under
s. 40.02 (8), other than an estate, who has not applied for any benefit payable under this chapter as a result of the death of the participant and whom the department cannot locate by reasonable efforts, as determined by the department by rule, within one year after the death of the participant shall be presumed to have predeceased the participant and all other potential beneficiaries. Thereafter, if the department is unable to locate any resulting subsequent beneficiary within 6 months, all beneficiaries under
s. 40.02 (8) (a) 1. and
2. shall be presumed to have predeceased the participant and the department shall pay all benefits payable under this chapter as a result of the death of the participant to the participant's estate in a lump sum.
40.08(8)(a)2.
2. If an estate that is determined by the department to be a beneficiary is closed prior to the payment of benefits payable under this chapter as a result of the death of the participant and the estate is not reopened within 6 months after the department notifies the estate that a benefit is payable, the benefit shall be considered irrevocably abandoned and shall be transferred to the employer accumulation reserve, unless the estate was the designated beneficiary under
s. 40.02 (8) (a) 1.
40.08(8)(a)2m.
2m. If the estate was the designated beneficiary under
s. 40.02 (8) (a) 1. and the estate is closed prior to the payment of benefits payable under this chapter as a result of death of the participant and the estate is not reopened within 6 months after the department notifies the estate that a benefit is payable, the department shall pay the benefit to a beneficiary as determined under
s. 40.02 (8) (a) 2. If the department is unable to locate any such beneficiary within 6 months, all such beneficiaries shall be presumed to have predeceased the participant and the benefit shall be considered irrevocably abandoned and shall be transferred to the employer accumulation reserve.
40.08(8)(a)3.
3. A participant, other than a participating employe or annuitant, whom the department cannot locate by reasonable efforts, with such efforts beginning by the end of the month in which the participant attains, or would have attained, the age of 65, shall be considered to have abandoned all benefits under the Wisconsin retirement system on the date on which the participant attains, or would have attained, the age of 70. The department shall close the participant's account and shall transfer the moneys in the account to the employer accumulation reserve. The department shall restore the participant's account and shall debit the employer accumulation reserve accordingly if the participant subsequently applies for retirement benefits under this chapter before attaining the age of 80.
40.08(8)(a)4.
4. The former spouse of a participant who is an alternate payee and whom the department cannot locate by reasonable efforts, with such efforts beginning by the end of the month in which the participant attains, or would have attained, the age of 65, shall be considered to have abandoned all benefits under the Wisconsin retirement system on the date on which the participant attains, or would have attained, the age of 70. The department shall close the alternate payee's account and shall transfer the moneys in the account to the employer accumulation reserve. The department shall restore the alternate payee's account and shall debit the employer accumulation reserve accordingly if the alternate payee subsequently applies for retirement benefits under this chapter before the participant attains or would have attained the age of 80.
40.08(8)(a)5.
5. All presumptions under this paragraph are conclusive upon payment of the benefit payable under this chapter as a result of the death of the participant to any qualifying person, estate or entity other than the employer accumulation reserve.
40.08(8)(b)
(b) All moneys or credits in an account for a person presumed to have died intestate, without heirs or beneficiary, or to be abandoned by the person under
par. (a) shall be applied, at the end of the 5th calendar year in which notice is published under
par. (c), to the employer accumulation reserve to reduce future funding requirements.
40.08 Note
NOTE: Par. (b) is shown as affected by two acts of the 1995 legislature and as merged by the revisor under s. 13.93 (2) (c).
40.08(8)(c)
(c) The department shall publish a class 1 notice, under
ch. 985, in the official state paper stating the names of persons presumed to have died intestate, without heirs or beneficiary, or whose accounts are presumed to be abandoned under
par. (a), and the fact that a benefit will be paid, if applied for within the time limits under
par. (a) and if the participant, alternate payee or other person offers proof satisfactory to the department that the participant, alternate payee or other person is entitled to the benefit. Such proof shall include, but is not limited to, evidence that the participant died and that the person is the beneficiary under
s. 40.02 (8).
40.08(8)(d)
(d) If any person files a claim within 10 full calendar years after the publication of the notice under
par. (c) and furnishes proof of ownership of any amounts in an inactive account the claim shall be paid on the same basis as if no action had been taken under this section. The cost of the benefit shall be charged to the employer account credited under
par. (b).
40.08(8)(e)
(e) Notwithstanding any other provision of the statutes any account subject to this subsection may, at the discretion of the department, be settled by any heirs of a deceased participant or beneficiary making application, on a form approved by the department, certifying the names of any other persons not known by the applicants to be deceased and known by the applicants to have an equal or superior claim to the account and certifying that the applicants have no knowledge of the whereabouts of any of the persons so named.
40.08(8)(f)
(f) Publication under
par. (c) is not required if the present value of the benefit to which a person would have been entitled on attainment of age 70 is less than $100, in the calendar year of 1982 or, in each calendar year commencing after January 1, 1982, the applicable amount under this paragraph for the previous calendar year increased by the salary index for that year and ignoring any fraction of a dollar. The provisions of this subsection apply to inactive accounts subject to this paragraph as if publication had been made in the year the person would have attained age 70.
