The Preferred Group’s Commuter Reimbursement Account allows you to set aside a portion of your gross salary to pay for work-related parking and mass transit expenses using pre-tax dollars.  Paying your commuter expenses with pre-tax dollars can save you an average of 30 to 40% on your annual taxes.

Expenses that are eligible for reimbursement under our plan include:

• Parking your personal vehicle in a facility at or near your place of employment.
• Parking at a location from where you commute, e.g., a Park and Ride lot, train station or a commuter bus pick up point.
• Transit passes to and from work, including the cost of tokens, passes, fare cards, vouchers, etc.
• Mass transit public systems (Mass transit can be a public system, or a private enterprise provided by a company or individual who is in the business of transporting people in a "commuter highway vehicle.") 

Expenses that are not eligible include:

• Tolls
• Traffic tickets
• Fuel
• Mileage costs or other costs incurred in operating a vehicle
• Taxis
• Carpooling with a neighbor or friend
• Parking at a Mall or similar location
• Costs that have been paid by your employer

How Much Can I contribute to the Commuter Reimbursement Account?

You may pre-tax any amount up to the monthly maximums set by the IRS.

The maximum monthly pre-tax contributions allowed are: 

• $230 for mass transportation
• $230 for qualified parking

These costs may be combined for a Total of $460.00 monthly.  This is a savings of $1,932.00 annually over post tax costs for parking and mass transit. 

Example:

If you are currently paying $125.00 a month to park your vehicle or to use mass transit, you are actually spending $168.75 for this expense when you pay with post tax dollars.  Paying with pre-tax dollars will save you $525.00 annually.

When employees use our Pre-Paid Benny Card^TM to pay for qualified transportation costs at a merchant accepting Visa^®, funds are automatically deducted from the pre-tax dollars in their Commuter Reimbursement Account. Employees can view their account online at www.mybenny.com  to keep apprised of charges, contributions, and current balances for the remaining plan year.