A. Purpose And General Information: The board of trustees has determined that it is in the best interest of the employees and officers of the town to be covered by the social security system as defined by state statute. The benefits shall include participation in the old age and survivors insurance system. By inclusion of employees and officers in the system, it is the interest of the board that the town be able to compete with private business to attract and retain the best personnel available. (1990 Code)
The 38th general assembly of the state of Colorado, in regular session, enacted a statute known as house bill no. 291, which is the enabling act provided for in section 218 of public law 734, 81st congress, which designated the department of employment security, state of Colorado, to act as the department to implement the coverage of employees and officers under the said old age and survivors insurance system. The town is hereby authorized to execute and deliver to the department of employment security, state of Colorado, a plan, or plans, and agreement, required under section 5 of said enabling act and the social security act, to extend coverage to employees and officers of the town and do all other necessary things to effectuate coverage of employees and officers under the old age and survivors insurance system.
B. Payroll Deductions: The town clerk and recorder are hereby authorized to establish a system of payroll deduction to be matched by payments by the town to be made into the contribution fund of the social security act through the department of employment security and to make charges of this tax to the fund or funds from which wage or salary payments are issued to employees of the town. Such payments are to be made in accordance with the provisions of section 1400 of the federal insurance contribution act on all services which constitute employment within the meaning of that act. Payments made to the department of employment security, state of Colorado, shall be due and payable on or before the fifteenth day of the month immediately following the completed calendar month, and such payments which are delinquent shall bear interest per month until such time as payments are made. (Ord. 92, 6-6-1955; amd. 1990 Code)
C. Appropriation For Participation In Social Security System: Appropriation is hereby made from the proper fund or funds of the town in the necessary amount to pay into the contribution fund as provided in section 5(c)(1) of the enabling act and in accordance with the plan or plans and agreement. Authority is given to the mayor and the clerk and recorder of the town to enter into an agreement with the department of employment security, state of Colorado, which agreement shall be in accordance with house bill no. 291 and with paragraph 218 of the social security act. Such plan and agreement shall provide that the participation of this town shall be in effect as of July 1, 1955. (Ord. 92, 6-6-1955)