(A) It is declared to be the policy and purpose of the village to extend to the eligible employees of the village the benefits of the Federal Old Age and Survivors Insurance System as authorized by the Federal Social Security Act and amendments thereto, and the Illinois Municipal Retirement Fund. In pursuance of said policy and for that purpose, the Village Clerk shall take such action as may be required by applicable state or federal laws or regulations.
(B) The Village Clerk is hereby authorized and directed to execute an agreement with the State Employees' Retirement System of the State of Illinois (Social Security Unit) and the Illinois Municipal Retirement Fund to secure coverage of eligible employees as provided in division (A) above.
(C) Withholdings from salaries or wages of employees for the purpose provided in division (A) hereof are hereby authorized to be made in the amounts and at such times as may be required by the applicable state or federal laws or regulations.
(D) Employer contributions and administrative expense shall be paid to the state agency in accordance with applicable state laws and regulations from amounts appropriated for such purpose.
(E) The Village Clerk shall maintain such records and submit such reports as may be required by applicable state and federal laws or regulations.
('79 Code, § 1002(13))