1. Load a game.
*Note: If you look at your followers at this point, they will have the right equipment selected.
2. Leave town (I left act 2 by way point).
3. Run around a bit, kill a few monsters, open some chests, etc.
4. Return to town.
*Note: If you look at your followers at this point, your followers not currently accompanying you have the wrong gear displayed. You have to open their inventory to see the right gear.