(A) Declaration of policy and purpose. It is hereby declared to be the policy and purpose of the town to extend to eligible employees and officials of the town, at the earliest date, 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. §§ 401 et seq., and all amendments thereto, and by 51 O.S. §§ 121 et seq. In pursuance of this policy, the officers and employees of the town shall take such action as may be required by applicable state or federal laws and regulations.
(B) Execution of agreement with state agency. The Mayor is authorized and directed to execute all necessary agreements and amendments with the State Department of Human Services to accomplish the provisions of division (A) above.
(C) Withholdings. Withholdings from the 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 and federal laws or regulations, and shall be paid to the state or federal agency designated by the laws and regulations.
(D) Employer contributions. Employer contributions shall be paid from amounts appropriated for said purpose from available funds to the designated state or federal agency in accordance with applicable state or federal laws and regulations.
(E) Records and reports. The Town Clerk-Treasurer shall keep such records and submit such reports as may be required by applicable state or federal laws and regulations.
(F) Exclusions. Excluded from this section authorizing the extension of Social Security benefits to town officers and employees are the following:
(1) Any authority to make any agreement with respect to any position, 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; or
(2) Any authority to make any agreement with respect to any position, employee or official for which compensation is on a fee basis, or any position, employee or official not authorized to be covered by applicable state or federal laws and regulations.
(Prior Code, § 1-7-4)