coverage of federal home loan bank employees

coverage of federal home loan bank employees Sec. 125. (a) The provisions of section 210(a) (6) (B) (ii) of the Social Security Act and section 3121(b) (6)(B)(ii) of the Internal Revenue Code of 1954, insofar as they relate to service performed in the employ of a Federal home loan bank, shall be effective— (1) with respect to all service performed in the employ of a Federal home loan bank on and after the first day of the first calendar quarter which begins on or after the date of the enactment of this Act; and (2) in the case of individuals who are in the employ of a Federal home loan bank on such first day, with respect to any service performed in the employ of a. Federal home loan bank after the last day of the sixth calendar year preceding the year in which this Act is enacted; but this paragraph shall be effective only if an amount equal to the taxes imposed by sections 3101 and 3111 of such Code with respect to the services of all such individuals performed in the employ of Federal home loan banks after the last day of the sixth calendar year preceding the year in which this Act is enacted are paid under the provisions of section 3122 of such Code by July 1, 1973, or by such later date as may be provided in an agreement entered into before such date with the Secretary of the Treasury or his delegate for purposes of this paragraph. (b) Subparagraphs (A)(i) and (B) of section 104(i) (2) of the Social Security Amendments of 1956 are repealed.