The Republic Act No. 4670, also known as the Magna Carta for Public School Teachers, aims to improve the social and economic status of public school teachers. It establishes policies regarding the recruitment, qualifications, tenure, transfers, salaries and benefits of teachers. Key provisions include setting minimum educational requirements for teachers, ensuring job security after 10 years of service, regulating transfers, establishing codes of conduct, and providing for higher salaries, healthcare benefits, leaves, and retirement benefits for teachers.