Commuter Benefits Program at Yale
New: Pre-Tax Commuter Deduction Increases to $230
If you take the bus, train, or vanpool to work or if you park in an off-campus parking lot, you can save even more money on your commuting expenses. Effective March 1, 2009, the federal government is allowing employees to deduct up to $230 per month, pre-tax, to pay for transit and vanpool expenses and $230, per month, pre-tax for off-campus parking expenses. This means that as of March 1, you may begin to make your transit purchases at the new limit for May transportation.
This enhanced benefit saves you money on monthly transit and off-campus parking expenses by deducting pre-tax funds from your paycheck. In addition, you will have the convenience of managing your commuter benefit account, of checking your account balances and reimbursement information and ordering your transit tickets online.
How does the plan work?
You authorize a pre-tax deduction amount for parking or transit/vanpool from each paycheck, up to the IRS limit stated above. You order your transit/vanpool tickets online or pay for the qualified off-campus parking expense and then file a claim with ADP to recover the amount deducted from your paycheck. Since these deductions are taken on a pre-tax basis, you save tax dollars. For more information and how to enroll, click below:
Transit Commuting
Off-Campus Parking
