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Commuting perks: New rules make them more attractive

by on
in Employee Benefits Program,Human Resources

Although 86 percent of American workers feel that commuter assistance benefits, such as discount transit passes, ride-sharing boards or parking benefits, are beneficial, only 17 percent have access to such perks, according to the Xylo Report: Commuter Assistance Benefits in the Workplace.

But count on that number to rise this year. Effective Jan. 1, the maximum individual benefit for tax-free transit increased from $65 to $100 per month. So-called qualified transportation fringe benefits allow employers to give employees up to $780 per year in commuter assistance as a pretax payroll deduction or a free, tax-free employee benefit.

The increase to $100 a month now lets employers give employees up to $1,200 per year as a tax-free benefit and increases their annual per-employee savings to about $120.

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