Transit & Parking Reimbursement Account Announcement
On January 2, 2013, President Obama signed the American Taxpayer Relief Act (ATRA) of 2012, which changed the maximum pretax limit that can be set aside for the Transit Reimbursement Account to equal the pretax Parking Reimbursement Account Limit. In 2012, prior to ATRA, the Transit Reimbursement Account limit was $125 per month and the Parking Reimbursement Account limit was $240 per month.
In addition to this change, the IRS just announced the annual inflation adjustments for the Transit and Parking Reimbursement Accounts for 2013. Therefore, beginning effective January 1, 2013, the pretax Transit Reimbursement Account limit has been increased from $125 to $245 per month, and the Parking Reimbursement Account limit has been increased from $240 to $245.
If you would like to increase or make a change to your monthly election amount, please complete the Parking & Transit Reimbursment Account Add/Change/Termination Form. The completed form may be faxed to (609) 258-5920 or scanned and e-mailed to firstname.lastname@example.org for processing.
If you have any questions, please contact the Benefits Team at (609) 258-3302 or email@example.com.