OK HB2136

Creates the Oklahoma National Guard Supplemental Retirement Pay Revolving Fund in the State Treasury, managed by the Oklahoma Military Department, with funds appropriated for supplemental retirement payments.

Establishes November 1, 2027 as the start date for payments, with the fund becoming effective November 1, 2025.

Limits eligibility to Oklahoma National Guard members with at least 25 years of military service who have accrued enough service credit to retire but had not reached retirement age as of the bill's effective date, excluding those with active duty military pensions.

Calculates payment amounts based on the retirement benefit the member would receive at eligible age, plus annual cost-of-living adjustments if applicable to active duty retirees, paid in 12 equal monthly installments.

Provides that payments continue only until the member begins receiving federal retirement benefits from the Defense Finance and Accounting Service and may be prorated if insufficient funds exist for all eligible members.