Proposition 124 unofficially passed on Tuesday in a special election with 5505 votes yes and 2797 votes no.
Prop 124 will change the state's public safety personal retirement system. It will replace the current system with a cost of living adjustment that follows inflation, capped at two percent.
Supporters of Prop 124 say it is the best way to sustain the public pension system for firefighters and police while protecting taxpayers.
Prop 124 will reportedly save about $1.5 billion over the next 30 years.