If the board agrees to Lockyer's motion, the nation's biggest public employees' retirement system would divest of a total $5 million invested in Smith & Wesson and Sturm, Ruger.
Last month Lockyer made a similar proposal to the California teachers' retirement system, the second-largest U.S. public pension fund after reports that the fund had a stake in the manufacturer of the rifle used in the Sandy Hook Elementary School massacre.
Here's the text of Lockyer's motion to the CalPERS board:
PHOTO: California State Treasurer Bill Lockyer speaks during a 2009 legislative hearing at the Capitol. / Hector Amezcua, Sacramento Bee