Legislative Session number- 81

Bill Name: SF0842

Relating to retirement; making changes in certain retirement and related
benefits affecting higher education faculty and certain state employees;
modifying retired state employee eligibility to purchase individual paid health
insurance benefits and the eligibility of state college and university system
retirees for employer paid health insurance benefits; expanding the no annuity
reduction provision under the teachers retirement association to state college
or university system reemployed retirees retiring under the Minnesota state
retirement system (MSRS); specifying the basis for participation in the TRA
part-time mobility program by MnSCU teachers teaching only during the first
semester in an academic year and eliminating a certain provision providing for
compensation in excess of a certain limit under certain conditions; modifying a
certain provision providing for optional additional contributrions to the state
college and university individual retirement account plan while on sabbatical
leave; requiring investment access to lower expense and no load mutual funds and
requiring the state board of investment to consider the fees and expenses
associated with investment products in the selection of financial institutions
under the plan; creating and providing for an IRAP part time teacher mobility
program, specifying participation and retirement contribution requirements and
restrictions and providing for the continuation of insurance programs and for
the accrual of service credit(mk)