(A) Benefits. It is hereby declared to be the policy and purpose of the village to extend to the eligible employees thereof, effective as of 1-1-1971, the benefits of the Federal Old Age and Survivors’ Insurance system as authorized by the Federal Social Security Act and amendments thereto. Elected officers are hereby excluded. In pursuance of the policy and for that purpose, the Village Mayor shall take action as may be required by applicable state and federal laws or regulations.
(B) Agreement. The Village Mayor is hereby authorized and directed to execute an agreement with the State Employees’ Retirement System to secure coverage of eligible employees as provided in division (A) above.
(C) Withholdings. Withholdings from salaries or wages of employees for the purpose provided in division (A) above are hereby authorized to be made in the amounts and at times as may be required by applicable state and federal laws or regulations and shall be paid over to the state agency in amounts and at times as are designated by state laws or regulations.
(D) Contributions. Employer contributions and administrative expense shall be paid to the state agency in accordance with applicable state laws and regulations from amounts appropriated for the purposes.
(E) Records and reports. The Village Treasurer shall maintain the records and submit the reports as may be required by applicable state and federal laws or regulations.
(Prior Code, § 1-7-7)