Commuter Benefit Plan Support
Benefit Resource will provide the following administrative support for your IRC 132(f) Commuter Benefit Plan (CBP).
Our plan design specialists focus on the employer's financial objectives while assuring the plan's delivery of quality Section 132(f) benefits to employees.
Mass Transit Account: eligible workplace mass transit expense (e.g. subway, train, bus, ferry, etc.)
Parking Account: eligible workplace parking expense
A Plan Summary is given to each eligible employee explaining the terms and operation of the plan in easy-to-read language.
This document contains specific information regarding eligibility requirements, plan effective date, eligible benefits, etc.
Plan Enrollment Support
A team of trained representatives is available to conduct group employee meetings and to coordinate and explain the plan's implementation.
|•||On-site Implementation Preparation|
|•||On-site Enrollment Support|
|- Plan Documentation|
|- Enrollment and Expense Claim Forms|
|- Internal Marketing and Media Support|
Ongoing CBP Support
Each participant will receive an individual eTRAC Prepaid MasterCard or Beniversal Prepaid MasterCard. Upon activation of the card, the participant can use it to pay for eligible workplace commuting expenses. When a card is not used, participants can submit a request for reimbursement and our administrative specialists will generate reimbursement by check or direct deposit, accompanied by a detailed explanation of benefit statement.
Cards for Commuter Benefit Plans
The eTRAC Card and Beniversal Card is an easy way for participants to access transit and parking funds at the point-of-sale to pay for eligible workplace commuting expenses at a qualified merchant.
Reimbursement of Workplace Commuting Expenses
When the card is not used to pay for an eligible expense, a participant can request reimbursement by completing a claim in one of the following ways:
|•||Smartphone users can submit claims-on-the go with the BRiMobile app.|
|•||They can log into the participant website, complete the claim form and then either upload it to Benefit Resource or print it so it can be faxed or mailed to Benefit Resource (if allowed by your plan).|
|•||Fax or mail a completed paper claim form to Benefit Resource.|
Participants can opt to receive reimbursements via direct deposit or check (both are accompanied by an explanation of benefits statement).
Employer Benefit Accounting Report(s)
Each month, reports will be generated detailing CBP Account activity to date. Beginning balances, reimbursements, deposits and ending balances are displayed in an easy-to-read format. A disbursement register will be provided with each reimbursement cycle listing all checks and direct deposits issued for that period.
IRS Compliance Support
• Plan Documentation Amendment(s).
Internet Website Support
The secure website of Benefit Resource is accessible 24 hours, 365 days a year for employers and plan participants. Plan documentation, forms, account information, and the ability to modify elections for an upcoming month are easily available.
Optional CBP Support
• Printed enrollment materials (Plan Summary, enrollment forms)
• Additional on-site information enrollment sessions
The Beniversal and eTRAC Prepaid MasterCards are issued by The Bancorp Bank pursuant to license by MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.