Mobile Teachers' Retirement Assistance Act

Mobile Teachers' Retirement Assistance Act - Expresses the findings of Congress that the transfer of teachers between State schools is impeded by the possibility of forfeiture of retirements, and that the resulting immobility hinders the growth of new communities.

Sets forth the terms and definitions of this Act. Specifies the requirements which a State retirement system must meet to receive Federal financial benefits under this Act.

Provides that the Federal contribution to each qualified State system for each retiring teacher's out-of-State service shall be 50 percent of the total cost, as determined by the retirement system at such teacher's age on date of retirement.

Contributes to the State retirement system an additional 2 percent of the Federal amount under this Act for the costs of administration.

Authorizes appropriations for the fiscal year 1975 and each succeeding year of amounts necessary to effectuate this Act.