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)