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Press Release Stimulus Plan Includes Good News for Commuters and Their Employers: Monthly Transit Limit Now $230 The stimulus plan signed by the President on February 17, 2009 included some good news for commuters and their employers. In the plan was a commuter provision that nearly doubles the transit limit for commuter benefits. Now commuter participants will be able to elect up to 230 tax-free dollars a month to pay for their transit passes and tickets. The new limit is effective immediately. WageWorks has updated our systems so participants can take advantage of the additional savings. This increase should be welcome news for commuters who spend more than $120 a month on their daily transit. It will be equally good for companies that offer a commuter benefits as part of their offering, considering the potential FICA savings now realizable. The new transit limit translates to very real savings to commuters and promoting this change is a great way for businesses to demonstrate support for their employees during these tough times. To learn more about the American Recovery and Reinvestment Act go to www.recovery.gov. About WageWorks Founded in 2000, WageWorks provides tax-advantaged health, wellness, child care, commuting, and education benefits. More than 100 of America's Fortune 500 employers and millions of their benefits-eligible employees use WageWorks' programs. As the cost of living continues to rise and more health care costs are pushed to employees, WageWorks seeks to eliminate barriers to benefit participation so families can save money and improve their overall well-being. WageWorks provides easy-to-use benefits programs that help save time, and educational tools and resources to increase employees' knowledge and understanding of their family's health care and financial needs. WageWorks is headquartered in San Mateo, Calif., with offices in New York, Tempe, Ariz., Mequon, Wis., Kansas City, Kas., Lombard, Ill., Troy, Mich., and Vista, Calif. For more information, please visit www.wageworks.com. Media RelationsBonnie Zelter 650.577.5355 |
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