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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 WageWorks, Inc. is a leading on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, or CDBs, in the United States. We administer and operate a broad array of CDBs, including spending account management programs such as health and dependent care Flexible Spending Accounts, or FSAs, Health Savings Accounts, or HSAs, Health Reimbursement Arrangements, or HRAs, and commuter benefits, such as transit and parking programs. Our corporate headquarters are located in San Mateo, California. We have additional facilities in Arizona, California, Colorado, Florida, Kansas, Michigan, New York, Wisconsin. For more information, please visit our website at www.wageworks.com. |
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