What if you could add a benefit for your employees and save the company money at the same time?
Ever hear of Commuter Choice? As defined by the Federal Transit Administration:
Commuter Choice is a provision of the Internal Revenue Code [(26 USC 132(f)] that permits an employer to pay for an employee’s cost of commuting to work, in other than a single occupancy vehicle.
Commuter Choice currently allows employers to offer their employees a tax free fringe benefit of up to $245 per month if they ride transit or a vanpool to get to work.
The program is designed to improve air quality, reduce traffic congestion, and conserve energy by encouraging employees to commute by means other than single occupancy motor vehicles.
Like you, most employers today are faced with the spiraling costs of doing business, and yet still want to provide incentives to keep valued employees. Commuter Choice could be a way to save the company some money and reward your employees at the same time.
Calculate the benefits for your company!
The Best Workplaces for CommutersSM provides 2 resources to help you calculate your company’s savings:
- A spreadsheet to estimate savings that can be realized by offering Commuter Choice benefits. The spreadsheet called “Download Spreadsheet to Estimate Employee Savings of Pre-tax vs. Post-tax Payment of Commuter Benefits” can be located under “More Resources” on the Best Workplaces for Commuter website (http://www.bestworkplaces.org/index.htm).
- A web-based Calculator to estimate the financial, environmental, traffic-related, and other benefits of commuting benefits can be located at http://www.bestworkplaces.org/resource/calc.htm
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