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 equal to 50 percent of the total cost to the system of providing 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 provide not more than ten years of out-of-State service credit.

Directs the Secretary of Education to make an annual 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.

Authorizes appropriations for fiscal year 1982 and succeeding fiscal years to carry out this Act.