Transit and Van Pooling Account
How much can be put in each month?
Maximum monthly contribution in 2008 is $115.
What's covered?
- Mass transportation fares, which include any pass, token, fare card, ticket, etc. for public transportation to and from work.
- Commuter highway vehicle transportation, better known as van pooling. The vehicle may be owned or leased by the employer or a service provided by a vendor, but must meet certain conditions:
- It must seat six or more adults (not counting driver)
- The vehicle must be used 80% or more of the time for transporting employees to and from work
- It must transport three or more commuters on each trip (not counting driver)
What's not covered?
- Cost of fuel
- Taxi or limousine fares
- Tolls paid for roads, bridges or tunnels
- Transportation costs not related to work
- Unreimbursed business travel expenses
How does the plan work?
- New in 2008 - CommuterConnect, online ordering system for transit and parking media; delivered right to your door
- Each employee elects the amount to contribute to the account up to the maximum allowed
- Contributions are deducted from employee's pay on a pre-tax basis.
- Employees can enroll, change or suspend contribution amounts at any time. Unused balances can be rolled over from month to month or year to year within the same account
- The employee pays the provider 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 contributed to the transit and parking accounts are separate and cannot be transferred from one account to the other.