Here's the measure approved Tuesday night by majority Democrats on the Legislature's six-member conference committee on pension reform:
Voting for the measure: Assemblymen Michael Allen, D-Santa Rosa, and Warren Furutani, D-Gardena and Senators Gloria Negrete McLeod, D-Chino and Joe Simitian, D-Palo Alto.
Senator Mimi Walters, R-Laguna Niguel and Assemblyman Jim Silva, R-Huntington Beach, abstained after raising concerns they were being forced to rush their vote to beat a Tuesday midnight deadline to have the bill ready for floor votes Friday. They also said the sweeping pension measure lacked actuarial analysis.
Assembly Bill 340 now goes to the all the members of Assembly and Senate for a vote on Friday, the final day of the 2011-12 legislative session. It's expected to pass on the strength of majority-Democratic votes alone, although some Republicans could vote for it. From there it would go to Gov. Jerry Brown's desk. The governor supports the bill.
Here's an analysis prepared by legislative staff, although it lacks fiscal analysis. CalPERS' Board of Administration has scheduled special meetings today and Thursday to consider the bill. Fund officials plan to have an actuarial analysis of the measure in time for Friday's vote.