Clear Timer node does not stop a looping timer

Setting a Clear Timer node does not stop the named function from firing.

1. Open UE4 Editor (any project)
2. In the level blueprint add an event begin play node and a Set Timer node
3. Create a custom event (TimerCheck) and enter the same name for the Function of the Set Timer node.
4. Set Time to 0.1
5. Wire the begin play and Set Timer together
6. From the custom event node, create a Print string node
7. From the print string create a Clear Timer node
8. Set the Function Name of the Clear Timer to the same name as the custom event.
9. PIE

Result:
Print String node will continue to fire indefinitely.