Transcript Slide 1

COMMONWEALTH OF PENNSLYVANIA
COMMUTER BENEFITS PROGRAM
Agenda
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Introduction to the Commonwealth’s Commuter Benefits Program
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Overview of Commuter Benefits
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TransitCenter Solutions – Products and Services
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How the Program Works
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How You Can Enroll
Introducing the
Commonwealth of Pennsylvania’s
Commuter Benefits Program
A Great Way for You to Save Money
Commonwealth’s Commuter Benefits Program
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With the Commonwealth’s Commuter Benefits Program, you
can take home more of what you earn!
– Thanks to a special provision in Federal law, Internal Revenue Code
Section 132 (f), you can save money every time you commute by
public transportation
• Whether you take a bus, train, subway or qualified vanpool you can save
money every time you commute
• And, if you currently drive to work, consider using public transportation as
a less expensive alternative to paying for fuel and parking
Commonwealth’s Commuter Benefits Program
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When you enroll in the Commuter Benefits Program, you will
be able to use your pre-tax salary to pay for commuting costs
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That means you will pay less in taxes and take home more of
what you earn
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Set aside up to $110* per month/$1,320 per year to pay for
your commute
*Amount can change annually; this is the amount for 2007.
Take Home More Of What You Earn
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Here’s an example of
how much you can save
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The columns show the
difference in take home
pay with and without
deductions for Federal
Income Tax, Social
Security, and Medicare
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In this example, $23 is
saved each month
Commonwealth’s Commuter Benefits Program
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It’s a win/win!
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You win by
– Using pre-tax dollars to pay for commuting expenses which saves money
– Receiving convenient transit products to pay for commuting costs
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The environment wins with
– Reduced traffic congestion
– Improved air quality
Available Transit Providers
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There are approximately 70 transit providers serving Pennsylvania
– Bus
– Train
– Subway
– Qualified Vanpool
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For a complete list of providers, visit the website or contact your
Human Resource Office
Product Overview
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Based on the transit provider you use, you will receive one of
the following transit products to pay for your commuting costs:
– TransitChek QuickPay® Card
– TransitChek® Vouchers
– TransitChek CashBack®
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Each product is explained further on the next slides
What is the TransitChek QuickPay® Card?
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Visa® Debit Card issued by Bank of America
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Designed to be IRS compliant for mass transit
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No annual or transaction fees
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24/7 access to account information
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No monthly usage limit
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No transaction limit
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Funds rollover month-to-month
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Quarterly Statements
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Card is funded on the 23rd of the month
What are TransitChek® Vouchers?
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Like cash
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Used to buy tickets and transit passes
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Used for qualified vanpools
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Accepted in Pennsylvania and
New Jersey
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Vouchers are received by mail before
the end of each month
What is TransitChek CashBack®?
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Used when the QuickPay Card and
Vouchers are not accepted by the
transit provider
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Cash reimbursement for transit expenses
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Employees submit CashBack
Reimbursement form with receipts
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Reimbursements directly deposited into
employee’s checking or savings account
within 2 weeks
Tools Available
Additional information, including a brochure, Frequently Asked Questions, and contact
information is available on the Commuter Benefits Website or by contacting your
Human Resource Office
www.transitcenter.com/pacommuterbenefits.aspx
How the Program Works
1.
You sign-up for a monthly pre-tax payroll deduction equal to, but not more
than the $110 maximum. (Under some circumstances, post-tax deductions
may also be taken for expenses above $110.)
2.
The payroll deduction is automatically taken from your pre-tax salary on the
first pay of the month. In addition, a small monthly administration fee of $3.25
is taken from post-tax salary
3.
The transit benefit product is made available to you by the end of the month in
which the deduction is made from your pay
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You use the product for expenses in the next month. (Note: This is an afterthe-fact benefit, since deductions are taken in one month and used the next
month.)
Employee Enrollment: How do you enroll?
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Enrollment is easy and takes just a few minutes
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There are two ways an employee can enroll:
– Complete an Enrollment Form available on the website or from your
Human Resource Office and mail or fax as directed on the form
– Or, Call our toll-free number, 1-866-591-2435 to speak with an
enrollment technician
Employee Enrollment: What Will You Need to Enroll?
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When enrolling, employees will be asked to provide:
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Employee Personnel Number
Last name as it appears in employee records
Home zip code
The names of all the transit and/or vanpool services regularly used
Monthly mass transit or vanpool cost
Employee Enrollment: Enrollment Form
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Completed forms should
be faxed or mailed to
TransitCenter at the
number or address
provided at the bottom of
the form
Customer Service Available
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Customer service available from 8:30am to 5:30pm Monday through
Friday (EST) 1(866)823-3248
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Bi-Lingual Customer Service Representatives
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24/7 access to TransitCenter website
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Employees may also refer questions to their Human Resource Office
On-Site Customer Service Available
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Onsite enrollment will be offered for any employee who has questions
before enrolling. Depending on the popularity of this service, additional
dates may be added in January
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Dec. 12 – Keystone Bldg. Atrium & Strawberry Square Atrium
Dec. 13 – Pittsburgh State Office Building
Dec. 14 – Scranton State Office Building
Dec. 19 – Philadelphia State Office Building
Dec. 20 – Reading State Office Building
The service will be provided from 8:00 to 3:00 on each day
What’s next?
Why wait to save money?
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Initial Enrollment begins December 11th and continues through
January 12, 2007
– First payroll deduction will be made in February.
– Transit benefit product available for use in March.
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Enroll on or before the 9th of any month after the initial enrollment
period ends for new enrollments or changes to existing enrollments