Notwithstanding any other provision of law, a transit district may not establish or contribute to a pension or retirement benefits plan or purchase an annunity for any member of its governing board who first served as a member of the governing board after January 1, 1989. This section does not apply to a deferred compensation plan described in § 53213 of the Government Code.

(Added by Stats. 1988, Ch. 1160, Sec. 3.)