Not all payroll deductions are created equal. Some people (although not many) may engage in a heated debate on the value of pre-tax deductions vs. post-tax deductions. Colleagues (even in our own organization) have asked “Why do we need post-tax deductions?” But, when understood, something magical happens and the rationale is clear. What is a… Read More
Are mid-year changes possible?
For many, you are likely in the middle of a plan year and for whatever reason are considering change. There are always pros and cons with any decision, but there may also be some limitations to changing pre-tax benefits. If you are considering mid-year changes to your pre-tax benefits program, here are a few considerations…. Read More
Fringe Benefits – What are they?
If you’ve been in the benefits industry for any amount of time, you’ve probably come across the term “fringe benefits”. However, what counts as a fringe benefit is sometimes unclear. Let’s take a look at what fringe benefits are and how they can help your company. What are fringe benefits? At a basic level, fringe… Read More
How the rise in urbanization and remote workers will change commuting
We recently published an article about new trends in the commuter landscape. A rise in remote workers and denser city populations are also expected to impact how employers approach commuter programs. Meeting the demand of an increasingly remote workforce In 2016, 43% of Americans reported working remotely. That number is expected to grow to 50%… Read More
Changes on the Horizon for Transit Payments
Transportation benefit programs have been available for over twenty years. However, the adoption and migration to transportation benefits was slow at times. First, employers administered the benefit directly through cash reimbursement. Then, transportation vouchers entered the scene. Vouchers limited the use of funds to transportation providers. Although employees struggled with using them at times. Next,… Read More
Your Tax Guide to Pre-tax Benefit Accounts
The name alone – “pre-tax benefit accounts” – implies there might be tax implications. You might be surprised to learn there are no tax implications for most of these benefits. Use these simple tips as your tax guide to pre-tax benefit accounts. (And how much effort you’ll have to put in before April 15). Commuter… Read More
New Jersey passes first statewide Commuter Benefit Ordinance
On Friday, March 1, 2019, New Jersey became the first state to adopt a commuter benefit ordinance with the passage of S.1567. While some of the details regarding the implementation are still outstanding, there are a few things we do know. What are the basics? Every employer in the State of New Jersey that employs… Read More
MTA fare increases announced, effective April 21, 2019
The Metropolitan Transportation Authority (MTA) Board voted on February 27, 2019 to increase fares and tolls. The new tolls take effect March 31, 2019 and the new fares take effect April 21, 2019. Highlights from the proposal are below. For New York City Transit, MaBSTOA, Staten Island Railway, MTA Bus Unlimited Ride MetroCard 7-Day Unlimited… Read More
Imputed income: The real reason behind those pesky receipt requests
Imputed income is a little bit of a mystery. It’s not overly common. However, when you encounter it, you can be left with an uneasy feeling. Let’s start by covering what it is. Then we’ll go over why it happens and how to prevent it. What is imputed income? The technical definition is: when the… Read More
Speed Dating: Featuring all your favorite pre-tax benefits
Ever feel like you can’t find what you’re looking for from your benefits? Look no further, and join us for a February 14th Special: Speed dating your pre-tax benefits! What are my options? In honor of Valentine’s Day, we’ve recreated a speed dating setting, but your pre-tax benefits are the potential partners. We know, it’s… Read More
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