Buried among all of the communications you receive, you likely heard about the New York City (NYC) Transit Law which took effect January 1, 2016, but it is now time to take action. In just under one month, the Department of Consumer Affairs is scheduled to begin enforcing the law.
What is the NYC Transit Law?
The NYC Transit Law requires all employers with 20 or more full-time, non-union employees working in NYC to provide a qualified transportation benefit. A qualified transportation benefit must provide employees with pre-tax mass transit benefits (or an equivalent employer-paid subsidy), up to the IRS transit benefit limit (which is $255 per month for 2016).
Where can I learn more?
If you are not yet familiar with the law or would just like an opportunity to ask a few questions, Benefit Resource will be available at the The New York State Society of CPAs Employee Benefits Conference on June 7, 2016 to explain what the law is and how employers can comply with the law.
How do I get started or begin referring clients to BRI? There are a number of options available to get started.
- Request a Quote: For larger employers, employers being referred by a third party (such as a payroll provider, broker or accounting professional), or employers with multiple service needs, we recommend using our Request a Quote form.
- Use the Self-service Sign-up Option: For small employers, the self-service option allows employers to sign-up for the benefit program online. Your Welcome Email and online resources will walk you through the steps of rolling out your program.
- Contact Us by Email or Phone
- Email: info@BenefitResource.com
- Phone: (866) 996-5200, ext. 212
The countdown has begun. We hope to be in touch soon!