Mobile Teachers Retirement Assistance Act

[AI summary unavailable — showing source text] 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 provide 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.…