I called chase to request retention on my wife's UA card. They offered $60. It was posted on next statement. Two weeks after that I paid off the remaining balance and called chase to cancel. Rep said the AF will be refunded. Since it had been over 30 days since the cancellation and no refund showed up, I SMed chase about it.

Got a reply saying only $35 will be refunded ($95-60) as I cancelled within 30 days of receiving the retention bonus.

So the lesson learned is don't cancel within 30 days of receiving retention.

I've added a line to wiki about this