How does the TRP work?
The employer identifies who is eligible to participate (within IRS discrimination requirements), what the maximum monthly contributions are for the plan 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 use the prepaid benefits card for expenses as they are incurred. For parking expenses, you may also submit claims for reimbursement. For 2017, the maximum limits are $255.00 for mass transit/vanpooling expenses and $255.00 for parking expenses.
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