Page 16 - 2017 Benefits Enrollment
P. 16
Beneits
Enrollment
Commuter Beneits Commuter Beneits Program
In 2017 our commuter beneit will be administered by Your Savings Account
(YSA). The commuter beneit allows you to set aside money from your pay on
a before-tax basis to pay for eligible costs associated with commuing to and
from work. The great advantage is that you don’t pay federal taxes on your
expenses, thus lowering your taxable income.
There are two types of beneits ofered, Transportaion (transit) and Parking.
There are muliple products you can uilize under each beneit:
X Transportaion: Voucher, standard passes, smart card and commuter
check card pre-paid MasterCard for Transit
X Parking: Pay the provider, parking checks, cash reimbursement and
commuter check card pre-paid MasterCard
Note: Mileage, tolls, fuel, carpooling, and business travel are not eligible for this program.
Monthly Ordering window:
X The ordering period is from the 11th to the 10th of the following month.
All orders must be completed by the 10th of the month to be efecive
for the following beneit month (Long Island and Metro-North Rail Roads
require a cutof of the 4th of the month).
For example, all orders placed by June 10th will be efecive for the July
beneit month.
X Employees can paricipate or change their purchase from month to
month up to the ordering deadline date.
The Monthly
Pre-Tax limit for
Transit and Parking
is $255
16
Enrollment
Commuter Beneits Commuter Beneits Program
In 2017 our commuter beneit will be administered by Your Savings Account
(YSA). The commuter beneit allows you to set aside money from your pay on
a before-tax basis to pay for eligible costs associated with commuing to and
from work. The great advantage is that you don’t pay federal taxes on your
expenses, thus lowering your taxable income.
There are two types of beneits ofered, Transportaion (transit) and Parking.
There are muliple products you can uilize under each beneit:
X Transportaion: Voucher, standard passes, smart card and commuter
check card pre-paid MasterCard for Transit
X Parking: Pay the provider, parking checks, cash reimbursement and
commuter check card pre-paid MasterCard
Note: Mileage, tolls, fuel, carpooling, and business travel are not eligible for this program.
Monthly Ordering window:
X The ordering period is from the 11th to the 10th of the following month.
All orders must be completed by the 10th of the month to be efecive
for the following beneit month (Long Island and Metro-North Rail Roads
require a cutof of the 4th of the month).
For example, all orders placed by June 10th will be efecive for the July
beneit month.
X Employees can paricipate or change their purchase from month to
month up to the ordering deadline date.
The Monthly
Pre-Tax limit for
Transit and Parking
is $255
16
