Obra

Discussion in 'Teacher Time Out Archives' started by Beth2004, Dec 28, 2005.

  1. Beth2004

    Beth2004 Maven

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    Dec 28, 2005

    I'm not sure if anyone can help me, but I figured I'd ask anyway. I got my first paycheck today from the school district where I'm working as a long-term sub and I've got $180 (which would be $60/week) taken out of my check for OBRA. By the time I saw that on my paystub the central office was closed so I can't call until tomorrow, but I was just wondering if anyone on here knows what that is. I googled it and found a site from CA and from what I read there it looks like it's for people who are no longer eligible for COBRA insurance, but it says you have to prove that you're disabled.....soooo, I'm confused. This could be something different, but I've definitely got to figure out what it is because $60 a week is a big chunk of change...I could get a newer car for that! Anyway, any help is appreciated.
     
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  3. Beth2004

    Beth2004 Maven

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    Ok, well i just googled it again with "obra" AND "Massachusetts" and found the form that I filled out when I was hired. I remember it now. It's sort-of like a mandatory life insurance deduction that I have to pay and I remember the woman speaking to me about it. I just didn't realize it would be so much money!! The form does say that 7.5% will be deducted which is exactly $60 a week sooo....I guess I found my answer! :)
     
  4. JenPooh

    JenPooh Virtuoso

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    Cobra is when...oh how do I explain...Here's an example: When my hubby left his job he left really good insurance (paid $100 a month). We could have stayed on that insurance if we used the cobra plan (where the employer does not pay their part) and paid almost $1000 a month. Does that make sense. I don't know if that's the same thing though. Does it say Obra, or Cobra?
     
  5. JenPooh

    JenPooh Virtuoso

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    Oh, really? Huh! That's a lot of $ for life insurance each month.
     
  6. Beth2004

    Beth2004 Maven

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    I got info about COBRA when I was taken off of my dad's insurance after I graduated. I thought the two may be related, but it doesn't look that way. The OBRA form also says ING at the top which is what made me remember filling it out.
     
  7. Beth2004

    Beth2004 Maven

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    It's not like a normal life insurance policy that you buy into I don't think. It says that the money goes into a trust for participants and their beneficiaries, though. It definitely is quite a bit of money!
     
  8. JenPooh

    JenPooh Virtuoso

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    Like a 401K in a way? I would find out if you get this money back after your job is over...hopefully it wont be over;).
     
  9. Beth2004

    Beth2004 Maven

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    Dec 28, 2005

    That's what I was just saying to my boyfriend...it seems similar to a 401K, but the employer isn't adding anything to it. I'm not sure when I'll be able to get the money back....if it's when I leave the district, or when I retire, or what....
    Apparently it's mandated by the state. Leave it to Taxachusetts....er...I mean...Massachusetts. ;)
     

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