(A) Declaration of policy. It is hereby declared to be the policy of the town to extend, at the earliest date, to the employees and officials thereof, not excluded by law or this section, and whether employed in connection with a governmental or proprietary function, the benefits of the system of federal old age and survivors insurance as authorized by the Federal Social Security Act, being 42 U.S.C. Ch. 7, and amendments thereto. In pursuance of this policy, the town shall take such action as may be required by applicable state or federal laws or regulations.
(B) Execution of agreement with state. The Mayor is hereby authorized and directed to execute all necessary agreements and amendments thereto with the appropriate state agent or agency, to secure coverage of employees and officials as provided in division (A) above.
(C) Withholdings. Withholdings from salaries or wages of employees and officials for the purpose provided in division (A) above are hereby authorized to be made in the amounts and at such times as may be required by applicable state or federal laws or regulations and shall be paid over to the state or federal agency designated by the laws or regulations.
(D) Employer contributions. There shall be appropriated from available funds such amounts at such times as may be required by applicable state or federal laws or regulations for employers’ contributions, which shall be paid over to the state or federal agency designated by said laws or regulations.
(E) Records. The town shall keep such records and make such reports as may be required by applicable state or federal laws or regulations.
(F) Exclusions.
(1) There is hereby excluded from this section any authority to make any agreement with respect to any position or any employee or official now covered, or authorized to be covered, by any other ordinance creating any retirement system for any employee or official of the town.
(2) There is hereby excluded from this section any authority to make an agreement with respect to any position or any employee or official, compensation for which is on a fee basis, or any position or any employee or official not authorized to be covered by applicable state or federal laws or regulations.
(Prior Code, § 1-7-5)