(a) As used in this Code section, the term "eligible member" means a person who became a member of a public retirement or pension system prior to the plan year beginning after December 31, 1995.

(b) Any other provision of law to the contrary notwithstanding, the maximum compensation used in computing employee and employer contributions to or benefits due from any public retirement or pension system shall be the maximum compensation set forth in Section 401(a)(17) of the Internal Revenue Code, as now or hereafter amended; provided, however, that the maximum compensation used for such computations for eligible employees shall be the maximum amount allowed by the respective retirement or pension system to be so used on July 1, 1993.