Quick
Links
Click
Here for Frequently Asked Questions
Click
Here for $martCommuter Forms
Click
Here to Access Your Account
Click
Here for Eligible Expenses
Click
here to view our NEW 3-minute video about the advantages of using the
$martCommuter Parking and Transportation plan.
Unlike
tax-deferred benefit plans, contributions made through $martCommuter
are entirely free of federal, state and Social Security
taxes. In addition to employee tax savings,
$martCommuter provides employer tax savings by reducing
the Social Security taxes from matching payroll contributions.
Both employers and employees agree that $martCommuter is
an excellent complement to any employee benefit package.
$martCommuter provides for commuter-related tax benefits.
The benefits in a $martCommuter Plan are any combination
of the following:
Parking
Reimbursement Account -
use pre-tax dollars to pay for eligible commuter parking
expenses.
Mass
Transit Reimbursement Account - use pre-tax
dollars to pay for eligible commuter mass transit and/or
vanpooling expenses.
Debit
Card Option -
click
here for more information on the debit card option, if offered
by your
employer
in conjunction with your plan.
Frequently
Asked Questions
How
do participants benefit from $martCommuter?
How
does the plan work?
How
do employees participate?
Can
participants change elections during the plan period?
How
do participants receive reimbursements?
What
is an eligible expense?
Do
funds carry over at the end of the plan period?
What
happens if a participant terminates employment?
Do
employees need to enroll each plan period?
Who
do I contact for more information?
How do participants benefit from $martCommuter?
$martCommuter benefits participants by allowing
them to pay for certain parking, mass transit and/or vanpooling
expenses with pre-tax dollars. Each dollar that goes into
the plan is free from federal, state and (in most cases)
Social Security taxes.
How
does the plan work?
The employer identifies who is eligible to participate
(within IRS discrimination requirements), what the maximum
contributions are for the plan for 2008 $220.00 for parking expenses and $115.00 for
mass transit/vanpooling expenses, according to
IRS guidelines), and the duration of each plan period (typically
month to month). Employees elect how much they want to contribute
to each plan account and then receive pre-tax payroll deductions
and submit claims for reimbursement of approved expenses
as they are incurred.
How
do employees participate?
Eligible employees complete and return an enrollment
form prior to the beginning of the plan period. This "election"
is divided into equal installments that are payroll deducted
on a pre-tax basis each pay period. Participants then submit
requests and receive reimbursements for approved expenses
incurred throughout the plan period, as needed.
Can
participants change elections during the plan period?
Participants are permitted to make election changes
throughout the plan period. There is no justification required
for making a change. An employer will usually limit the
frequency for submitting election changes (i.e. once per
month).
How do participants receive
reimbursements?
Participants can fax, email or mail claims and
supporting documentation directly to Chard Snyder. Supporting
documentation can be a receipt, a bill, and/or a signed
affidavit validating the submitted expense. After the claim
has been reviewed and the expense approved, payment is then
issued to the participant via direct deposit or a check.
Claims are processed daily and payments are issued at least
once per week.
What is an eligible expense?
Eligible expenses are parking, mass transit and/or
vanpooling expenses incurred by a participant for the purpose
of commuting to and from a place of work. Spouse and/or
dependent commuter expenses are not eligible
for reimbursement. Expenses submitted through this benefit
cannot be resubmitted through an income tax return. Click
here to view a copy of our eligible expense listing.
Parking must be on or near the premises of the participant's
employer or on or near a location from which the participant
commutes. Parking on or near property used by the participant
for residential purposes is not permitted. Metered parking
is permitted.
Mass transit/vanpooling expenses must be incurred through
public transportation or by a carpool or vanpool service.
Reimbursement for an unsubmittable fare medium (i.e. a bus
token) is permitted.
Do funds carry over at the
end of the plan period?
Any unused amounts left in the accounts at the
end of the plan period are carried
over into the next plan period. Participants have
access to these funds from year to year as long as they
remain eligible.
What
happens if a participant terminates employment?
If
a participant terminates employment, participation in the
plan will also terminate. Any balance in the account
is not forfeited unless the Plan Document specifies a grace
period after termination.
Do employees need to enroll each plan
period?
Participants' elections carry over from plan period
to plan period. However, an employer may require employees
to complete an enrollment form periodically to confirm the
elections they have in place.
Who
do I contact for more information?
If you require any assistance with $martCommuter,
then please contact us.
BENEFIT
CATEGORIES
Parking Reimbursement
Account
The
Parking Reimbursement Account allows for certain commuter-related
parking expenses to be paid for on a pre-tax basis. Participant
elections are payroll deducted and placed into a special
account for reimbursements. Participants may receive reimbursements
up to the total amount contributed through payroll deductions.
Participants are permitted to make election changes throughout
the plan period. The frequency for making changes is determined
by the employer.
There
is no income tax reporting required when participating in
this account. The payroll deductions are free of federal,
state and (in most cases) Social Security taxes and do not
even appear on a W-2 as reported income.
Reimbursements are received by faxing, emailing or mailing
claims and supporting documentation directly to Chard Snyder.
Supporting documentation can be a receipt, a bill, and/or
a signed affidavit validating the submitted expense. Services
must be incurred while the participant is an eligible employee
and participating in the plan. After the claim has been
reviewed and the expense approved, payment is then issued
to the participant via direct deposit or a check. Claims
are processed daily and payments are issued at least once
per week.
Reimbursements are
only issued for eligible expenses incurred by the participant.
Funds remaining in the account at the end of the plan period
carry over into the next plan period.
The employer determines eligibility for this benefit (within
discrimination requirements) and the maximum and minimum
contributions as allowed by IRS regulations.
Mass
Transit Reimbursement Account
The
Mass Transit Reimbursement Account allows for certain commuter-related
mass transit and/or vanpooling expenses to be paid for on
a pre-tax basis. Participant elections are payroll deducted
and placed into a special account for reimbursements. Participants
may receive reimbursements up to the total amount contributed
through payroll deductions. Participants are permitted to
make election changes throughout the plan period. The frequency
for making changes is determined by the employer.
There is no income tax reporting required when participating
in this account. The payroll deductions are free of federal,
state and (in most cases) Social Security taxes and do not
even appear on a W-2 as reported income.
Reimbursements are received by faxing, emailing or mailing
claims and supporting documentation directly to Chard Snyder.
Supporting documentation can be a receipt, a bill, and/or
a signed affidavit validating the submitted expense. Services
must be incurred while the participant is an eligible employee
and participating in the plan. After the claim has been
reviewed and the expense approved, payment is then issued
to the participant via direct deposit or a check. Claims
are processed daily and payments are issued at least once
per week.
Reimbursements are only issued for eligible expenses
incurred by the participant. Funds remaining in the account
at the end of the plan period carry over into the next plan
period.
The employer determines eligibility for this benefit
(within discrimination requirements) and the maximum and
minimum contributions as allowed by IRS regulations.
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