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Edenred Commuter Benefit Solutions has been a long-time champion of commuter options. HR 1, more commonly referred to as tax reform made several changes to the transportation fringe benefit.
The legislation maintained the parking and transit tax benefits for individuals, however, the legislation made it more expensive for non-profits and universities to offer transportation fringe benefits.
If your company employs 20 or more full time, non-union employees in any of the five boroughs of New York City, offering a pretax transit benefit is the law. And it’s been a little over two years since “Local Law 53”, New York City’s Commuter Benefits Law, went into effect.
But, it’s not too late to comply with this transit ordinance and avoid any penalty that can hurt your company’s budget. In this article we answered the most frequently asked questions about complying with the NYC Transit Ordinance.
A full-service commuter benefits provider is able to meet the needs of employers of all sizes, from national brands to startups, and in major metropolitan markets as well as regional business districts. With this much coverage, the key is to provide a successful a commuter benefits program is to make sure that employees have an opportunity to save, and to save conveniently, no matter how they commute, because no two commutes are ever the same!