§ 133. Agreement with federal secretary. 1. The director is hereby authorized, on behalf of the state, to enter into an agreement with the federal secretary for the purpose of extending old-age and survivors insurance coverage to eligible employees of the state or of any political subdivision.

2. The agreement with the federal secretary shall provide that the state will pay to the secretary of the treasury of the United States, at such time or times as may be prescribed under the federal social security act, contributions with respect to wages, equal to the sum of the taxes which would be imposed by sections thirty-one hundred one and thirty-one hundred eleven of the federal insurance contributions act if the services covered by such agreement constituted employment within the meaning of that act. Such agreement also may contain such provisions relating to coverage, benefits, contributions, adjustments, refunds, administration, effective date, modification and termination of the agreement and such other appropriate provisions as the director and the federal secretary may agree upon and which are consistent with this article and the federal social security act. Such agreement, or any modification thereof, may be made retroactive where authorized by the federal social security act.

3. Such agreement shall apply to:

a. All services which constitute employment and are performed in the employ of the state by employees thereof, provided, however, that the director may exclude from coverage under such agreement, or modification thereof, in accordance with the federal social security act, classes of employment where he shall determine that old-age and survivors insurance coverage for such classes is impracticable; and

b. All services which constitute employment and are performed in the employ of a political subdivision, whether or not covered by an agreement entered into pursuant to section one hundred thirty-six of this chapter, provided, however, that the director may exclude from coverage under such agreement, or modification thereof, in accordance with the federal social security act, classes of employment where he shall determine that old-age and survivors insurance coverage for such classes is impracticable.

4. Any instrumentality jointly created by this state and any other state or states is hereby authorized, upon the granting of like authority by such other state or states, (a) to enter into an agreement with the federal secretary to provide old-age and survivors insurance benefits to employees of such instrumentality, (b) to require its employees to pay (and for that purpose to deduct from their wages) contributions equal to the tax which would be imposed by section thirty-one hundred one of the federal insurance contributions act, (c) to make payments to the secretary of the treasury in accordance with such agreement, including payments from its own funds equal to the amount of the tax which would be imposed by section thirty-one hundred eleven of the federal insurance contributions act, and (d) otherwise to comply with such agreements.