COMMUTER BENEFITS FSA

Plan Materials

• FSA User Guide
• Commuter Benefits Transit and Parking Flyer

Overview

Commuter Benefits include Transit and Parking Accounts lets you set aside money from your paycheck pre-tax for eligible parking and transit expenses. Because this program allows for tax savings, it is regulated by § 132 of the Internal Revenue Code of the Internal Revenue Service (IRS).

These accounts enable you to pay for specific workplace transit and parking expenses on a tax-free basis through payroll deductions. Commuter Benefits are not tied to a benefit year, so the funds will remain in your account until exhausted. Election changes are not limited by a plan year and can be updated or stopped as your needs change.

* The IRS sets limits each year for maximum monthly benefits. View current IRS Limits.

Transit Account

A Transit Account enables you to set aside funds on a pre-tax basis to pay for eligible workplace mass transit expenses, such as the price of tickets, vouchers. It passes to ride a subway, train, or city bus, or the costs of transportation in a commuter highway vehicle (e.g., vanpool) if such transportation is for purposes of travel between a residence and place of employment.

Parking Account

A Parking Account enables you to set aside funds on a tax-free basis to pay for eligible workspace parking expenses, parking costs at or near your primary work site as well as parking costs at the place to access transportation to work, such as a train station or vanpool stop. Parking on or near property used for residential purposes does not qualify.

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