Mobile Teachers' Retirement Assistance Act

Mobile Teachers' Retirement Assistance Act - Directs the Secretary of Education, in the interest of facilitating teacher job mobility across State lines without a substantial loss of retirement benefits, to make an annual Federal contribution to each qualified State or local public retirement system on account of each teacher who: (1) is covered by the State's retirement system; (2) retired during the fiscal year ending in calendar year of the contribution; and (3) has credited out-of-State teaching service.

Sets forth: (1) criteria to be met by a State retirement system in order to participate in the program; and (2) limitations and conditions applicable to the Federal contribution. Fixes the amount of such contribution at 50 percent of the total cost (as determined by the retirement system based on the teacher's age on the date of retirement) of each year of the teacher's credited out-of-State service, to a ten-year limit.

Authorizes appropriations.