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Transportation

FLEXIBLE BENEFITS   |   COBRA   |   TRANSPORTATION   |  
DIRECT DEPOSIT


SECTION 132, TRANSPORTATION ASSISTANCE PROGRAM

INTRODUCTORY CONCEPTS

GOVERNING RULES AND REGULATIONS FOUND IN SECTION 132(F) OF IRS CODE
EMPLOYEES WILL SAVE FEDERAL AND SOCIAL SECURITY TAXES
PROGRAM IS TAX EXEMPT.  EMPLOYEE NEVER PAYS TAXES ON ANY CONTRIBUTION TO THE PLAN.
MOST 125 RULES AND REGULATIONS DO NOT APPLY TO SECTION 132 PLANS

QUALIFIED TRANSPORTATION BENEFITS
PARKING ($200.00 PER MONTH)
COMBINED MASS TRANSIT/VANPOOLING ($105.00 PER MONTH)

PLAN REQUIREMENTS
NO DOCUMENTATION
NO LOSE IT OR USE IT
NO REPORTING REQUIREMENTS

ADMINISTRATIVE PROCEDURES GERMANE TO EMPLOYEES
ESTIMATE EXPENSES ON A MONTHLY BASIS—SUGGEST ON A QUARTERLY BASIS; DIVIDE ESTIMATE BY NUMBER OF ANNUAL PAY PERIODS FOR PAY PERIOD DEDUCTION (SUGGEST MINIMUM OF $30.00 PER MONTH.)
FOR REIMBURSEMENT, EMPLOYEE NEEDS TO PROVIDE SUBSTANTIATION

RECOMMENDED FORMS
ELECTION FORM
REQUEST FOR REIMBURSEMENT
SUMMARY PLAN DESCRIPTION

FEES
 THERE ARE TWO FEES APPLICABLE:
a)                  ONE TIME SET-UP FEE.
b)                 $5.00 PER MONTH FEE, PER PARTICIPANT

 


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