Parking Expenses
How much can be put in each month?
The maximum monthly contribution in 2008 is $220.
What's covered?
- Parking at or near an employee's work place
- Parking at or near a location from which an employee commutes to work by mass transportation, carpooling, etc. (A parking lot at a commuter train station, for example.)
What's not covered?
- Non-work related parking
- Parking at or near an employee's residence
How does the plan work?
- Employee elects amount to contribute to the account up to the maximum.
- Contributions are deducted from employee's pay on a pre-tax basis.
- Employees may enroll, change or suspend contribution amounts at any time.
- Unused balances may be rolled over from month-to-month or year-to-year within the same account
- The employee pays the parking facility using the FlexRight Benefits Card , or pays with personal funds and files a request for reimbursement. Reimbursements may be filed either online, for faster service, or by paper form.
- Funds may not be transferred between the transit and parking accounts.