Currently enrolled Employers/Employees, please contact our customer service team at 888-782-1008 or help@mytransitbenefit.com.
Currently enrolled Employers/Employees, please contact our customer service team at 888-782-1008 or help@mytransitbenefit.com.
Section 132(f) of federal tax law allows employees to pay for transit and parking costs using pre-tax dollars. By using pre-tax dollars, employees can save up to 40% annually on their commuting costs while also reducing your company’s payroll taxes.
Congress adjusts these pre-taxes annually and for 2024, the monthly amount is $315 for transit and $315 for parking. Companies offering this program save money through lower federal and state employment taxes.
Section 132(f) of federal tax law allows employees to pay for transit and parking costs using pre-tax dollars. By using pre-tax dollars, employees can save up to 40% annually on their commuting costs while also reducing your company’s payroll taxes.
Registration
Employers can sign up to enroll and begin offering this benefit to employees.
Support
RTA staff can answer any questions about the process or provide support.
Benefits
Participants in the program can take advantage of various products with their pre-tax benefit.
Flexibility
The program allows any size company to add to the benefits package.
The RTA Transit Benefit Prepaid Mastercard (RTA Transit Benefit Card) is a reloadable prepaid card that can only be used for qualified commuter benefit purchases where Debit Mastercard, Maestro® cards, and NYCE® cards are accepted. Employees can use the RTA Transit Benefit Card at a station sales windows if available, a ticket vending machine, or to make an online transit purchase only where transit products are sold. If the parking benefit option is activated, the card may also be used at CTA, Metra, and Pace Park-&-Ride stations as well as other qualified parking garages where the same types of card payments are accepted.
The RTA Transit Benefit Card is mailed after the 17th of the month, prior to the benefit month of which you ordered. The account is funded on the 19th of each month and the funds are available for use on the 20th of each month.
The RTA Transit Benefit Prepaid Mastercard is issued by The Bancorp Bank, NA pursuant to license by Mastercard International Incorporated. The Bancorp Bank, NA; Member FDIC. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
This product allows pre-tax funds to be directly deposited into an employee’s existing Ventra account for use on the CTA, Pace and Metra (Metra riders can buy and display mobile tickets with their smartphones – using the Ventra app only). Ventra accounts can be loaded with a pass product or select denominations in transit benefit value; the direct load will be available by the last day of each month.
This product allows pre-tax funds to be directly deposited into an employee’s Pace Vanpool account; funds will be available the 20th of each month, or the next business day. Like carpools, Pace Vanpool connects individuals who live near each other and have similar travel patterns/work hours to form a workday rideshare arrangement. More information is available on Pace’s website.
Want to know more about how our program can benefit you? Send us a message, and we'll guide you through the process.
Currently enrolled Employers/Employees, please contact our customer service team at 888-782-1008 or help@mytransitbenefit.com.