Do you take the train, subway or bus? Do you pay to park while at work or where you board the mass transit system? If so, the Commuter Benefit may be for you.
First Data domestic employees can purchase qualified transit passes and parking vouchers, using before-tax monthly payroll deductions. Passes are ordered on-line and mailed to your home. You can place an order every month, skip a month or place a one time recurring order.
Qualified expenses are defined as:
Parking - parking used by employees on or near site of employment or near location employee's park to use mass transit.
Transit Expense - mass transit may be publicly or privately operate and includes bus, rail or ferry; or is a vehicle that sits at least six adults and the driver is in the business of transporting people.
To enroll, log in to PayFlex.com and click on the Commuter Benefits link to the left. You can enroll at any time during the year and do not need to order a pass each month. However, to ensure you get your passes when you need them, you must order each months pass between the 15th and last day of the month, 1 ½ months in advance. The amount of your pass will be deducted once a month from your paycheck.
In 2017, the IRS monthly limit on the amount that may be excluded from an employee's income on a pre-tax basis: