Benefit Resource to Attend NYSSCPA Employee Benefits Conference
Buried among all of the communications you receive, you likely heard about the New York City (NYC) Transit Law which took effect January 1, 2016, but it is now time to take action. In just under one month, the Department of Consumer Affairs is scheduled to begin enforcing the law. What is the NYC Transit Law? […]
One Month to Comply: NYC Transit Law
While the New York City Transit law took effect January 1, 2016, the Department of Consumer Affairs, who is responsible for the law, will not be seeking penalties for the law until July 1, 2016. This provides employers with just one month to implement a commuter benefit plan and comply with the transit law. Whether you […]
Transit Benefits: In-house vs. Third-party Management
It is not uncommon for employers to raise the question: ‘Should we manage our commuter benefits program in-house or should we use a third-party?‘ If you are considering managing a mass transit program in-house, there are a number of factors to consider: How will the benefit be accessed? The benefit must provide direct access to mass transit fare media. […]
MBTA Announces Fare Increases
The Massachusetts Bay Transit Authority (MBTA) has announced a fare increase effective July 1, 2016. While the overall system-wide average is approximately 9.3%, some of the changes will reduce fares and costs for certain services. The most common ticket services and changes are listed here. Bus ticket: Cash fare=$2.00 (down from $2.10) and CharlieCard fare=$1.70 […]
Mass Transit Parity Now Permanent
In a last minute legislative move, commuters of mass transit receive a $432+* year-end bonus. On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (PATH) into law which included a permanent extension of pre-tax mass transit parity with parking limits. Pre-tax mass transit limits will be permanently set equal to the pre-tax parking […]
Transit Law Compliance: How Do I Become Compliant?
ONE MONTH TO COMPLIANCE DEADLINE IN NYC AND DC! So what do you need to do? Who needs to comply? What does it mean to be compliant? As we have indicated previously, New York City and Washington DC will be implementing laws requiring employers to offer qualified commuter benefit programs as of January 1, 2016. […]
2016 Limits Now Available
As a new year approaches, it is important to make sure you are aware of all of the limits that may affect your tax-free benefit accounts and other benefit programs. Please check with your employer regarding what plans are offered, any additional limits that may exist or to make changes to your election(s) as a result […]
Supporting NYC Efforts to Expand Pre-tax Commuter Benefits
Benefit Resource will host the “NYC Transit Law – Savings for All” webinar of Nov. 18, 2016. This is the third public webinar Benefit Resource has offered since the law was signed in October 2014. The New York City Transit law indicates employers with 20 or more full-time employees working in New York City (including all 5 […]
Commuter Benefits Rules to Change in January
Claims reimbursement prohibited as a result of IRS Ruling The IRS released new rules for how Commuter Benefits Plans are managed which takes effect January 1, 2016. There are two important points regarding the changes: Benefits Cards, like the Beniversal Prepaid Mastercard and eTRAC Prepaid Mastercard, have gained mainstream attention with virtually all transit systems accepting […]
A Twist for Commuter Benefit Programs
Years ago, Commuter Benefits were one of the best kept secrets in the benefits industry. Many times, it was even challenging to find locations and facilities which accepted anything but cash. So, it was common to see cash reimbursement programs for commuter benefits. As Commuter Benefits have gained mainstream attention and transit agencies have looked […]
The Benefits Industry Buzz: Commuter Benefits
Typically, at this time of year, there is often a lull in the benefits discussion. January plans have moved into a routine and things are running pretty smoothly. Time for benefits personnel to take a break?…Not so much. For many benefits personnel, the discussion has merely shifted from health benefits to commuter benefits. And for good […]
Making NYC Transit Affordable
Commuter benefit plans will help make NYC Transit Affordable, but this week many New Yorkers will experience the eighth increase in ten years to ride MTA and Long Island Railroad (LIRR). A 30-day unlimited ride MetroCard will increase from $112 to $116.50. LIRR riders can expect fares to increase roughly 4%. Read more on Fare Increases. […]
Twas the Night Before Recess…
Twas the night before recess and all through Congress, Not a creature was stirring, not even the House; The Extender Bill was up in the air, In order to adjourn and be off for the holidays at last, Two parties decided to approve what was there, And with that a retroactive transit bill would pass. […]
The Twelve Days of Open Enrollment
In the spirit of the holiday Open Enrollment season, we break from our traditional topics to bring you a light-hearted rendition of the Twelve Days of Open Enrollment… <proceed to hum the tune to “The Twelve Days of Christmas”> The Twelve Days of Open Enrollment On the first day of open enrollment, my employer gave to me, a […]
Pre-tax Mass Transit Benefits for all New Yorkers: One Step Closer
The New York City Council passed a bill which would provide more employees in New York with access to pre-tax mass transit benefits. The bill requires businesses with 20 or more full-time employees in the city to offer federal tax benefits for transit riders. The council voted 49-0 in favor of the bill. On October […]
Commuter Benefits Mandates. Bay Area Today, Metropolitan Areas Across the Country Soon!
San Francisco Bay Area is commonly known as a technological and entrepreneurial center. And for good reason. Many of the great tech giants got their start and are headquartered in the Bay Area. Additionally, the Bay Area has also started programs like Healthy San Francisco which requires employers of a certain size to contribute towards health […]
Record 10.7 Billion Trips Taken On U.S. Public Transportation In 2013
In a Press Release this week, the American Public Transportation Association released figures for 2013 which show record use of mass transit. Record 10.7 Billion Trips Taken On U.S. Public Transportation In 2013 The Highest Transit Ridership in 57 Years In 2013 Americans took 10.7 billion trips on public transportation, which is the highest annual […]
