Benefits Information

Commuter Tax$ave Program

The New Jersey State Employees Commuter Tax Savings program will be available to William Paterson employees effective September 2005.  This program allows eligible full-time employees to set aside before-tax dollars to pay for certain mass transit and commuter parking expenses, thereby avoiding federal taxes and saving money. 

The following is a brief overview of the program: 

Program Benefits:

The two components of Commuter Tax$ave are for mass transit expenses and commuter parking expenses.  Eligible employees may execute salary reduction agreements to have up to:

• $105 per month ($1260 per year) deducted from salary to pay for mass transit commutation costs to and from work (mass transit includes train, bus, ferry and vanpool expenses); and/or
  
  
• $200 per month ($2400 per year) to pay for parking at work or at park and ride sites.

Enrollment:

The Commuter Tax$ave Program allows an employee to opt in and out or change amounts on a monthly basis.  Eligible employees may enroll in the program or end participation at any time during the year and may change deductions as often as they like during the year.  Once an employee has enrolled, the employee remains enrolled for all subsequent months at the same level of participation until the employee makes a change to the deduction amounts or elects to end participation. 

Once enrollment begins on June 16, 2005, the eligible employee must contact TransitCenter directly.  Enrollment can be done through an Integrated Voice Response Unit by calling 1-866-823-3248, or over the Internet at:  www.mycommutertaxsave.com

Deductions:

Once TransitCenter confirms your eligibility in the program, they will contact the Payroll & Benefits Office to begin payroll deductions. 

 Deductions for the benefit will be taken in accordance with the chart below:  

*deductions for ten-month employees will be taken in June & July to cover September & October

 TransitCenter will then process tickets, payment cards, or vouchers and mail them directly to the employee.  The total time required for processing before the benefit begins is approximately 45 days. 

“Use It or Lose It” Provision – Employee elections are irrevocable and, to avoid forfeiting benefit dollars, employees should carefully consider how much they want to set aside to cover their commuting expenses.  The State is prohibited under federal tax regulations from processing refunds to employees who fail to fully utilize the benefit in a timely manner.

For more detailed information and the schedule for enrollments/changes during the year, please see Fact Sheet #67 Commuter Tax$ave Program at:  http://www.state.nj.us/treasury/pensions/fact67.htm

If you have any questions, contact Susan Piccirilli, Benefits Office at ext. 2624 or TransitCenter Inc.
at 1-877-440-4407.