Mobile Teachers Retirement Assistance Act

Mobile Teachers' Retirement Assistance Act - Establishes a Federal-State program to permit teachers to perform out-of- State educational service without loss of retirement benefits for such service.

Entitles a qualified State retirement system, which credits a teacher for out-of-State service to Federal aid of 50 percent of the total cost to the system of such out-of-State credit.

Specifies the requirements which a State retirement system must meet in order to qualify for Federal aid under this program.

Limits the amount of the Federal aid to a State retirement system to an amount providing not more than ten years of out-of-State service credit.

Directs the Commissioner of Education to make a grant to each qualified State retirement system of an amount equal to two percent of such system's Federal aid received under this Act for the costs of administration.