If your company has 20 or more full-time employees who work in New York City, today is an important day. The New York City Transit Ordinance, which requires employers to offer these employees the opportunity to use pre-tax income to purchase qualified transportation fringe benefits, is now in full effect, meaning that any organization not in compliance may be subject to fines.
If this is sending off alarm bells at your company, you have a little bit of breathing room as employers found in violation of the Ordinance have 90 days to cure any violations before any penalties are imposed. But the time to act is now.
If you are ready to get on board and introduce a pre-tax transit benefit program to your employees, here are three reasons why WageWorks® Commuter Benefits might just be the right choice for you:
1) It’s easy to get started. Whether you’re an existing WageWorks client or visiting our website for the first time, we make it simple for you to introduce a comprehensive transit benefit program to your employees. From our extensive portfolio of educational materials to our innovative technology platform we’ve taken the guesswork out of everything.
2) We focus on you. We're committed to helping you navigate the complexities of providing commuter benefits to your employees. We assist in getting your employees informed, enrolled and enjoying their benefits. Whether you're a small-to-medium size company or a large company with offices nationwide, we have a flexible program that's right for you.
3) Both your company and your employees save money. Commuter Benefits are a win-win for everyone—employees save money by using pre-tax dollars to cover their commuting costs, and you save money on payroll taxes for every individual enrolled.
Wondering how much you and your company can save? Check out our infographic to learn more. Or, contact us to find out what’s needed to comply with the New York City Transit Ordinance.