This new cap is effective January 1, 2019 and results in greater savings for riders and their employers. Payroll deductions in 2018 are capped at $260/month; deductions occurring in 2019 are eligible for the increased cap of $265/month. We will be updating our employer materials to reflect the new monthly cap and will post them to our blog. Should you have any questions, please reach out to us at [email protected].
The IRS released Revenue Procedure 57, which increased the cap on 132(f) transportation fringe benefits from $260/month to $265/month for next year. Please see page 17 of the Revenue Procedure for specific text.
This new cap is effective January 1, 2019 and results in greater savings for riders and their employers. Payroll deductions in 2018 are capped at $260/month; deductions occurring in 2019 are eligible for the increased cap of $265/month. We will be updating our employer materials to reflect the new monthly cap and will post them to our blog. Should you have any questions, please reach out to us at [email protected].
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RideECO submits weekly transfers for PATCO FREEDOM Cards. You will find an updated schedule as to when your order should be received by Edenred and when employees can expect to see funds loaded onto their FREEDOM Cards. The file will continue to be sent to PATCO on Fridays, unless it conflicts with a DVRPC office closure. The dates affected in 2019 are:
In lieu of the dates above, FREEDOM card orders will be submitted to PATCO on the following dates:
Please remember, some federal holidays may impact the load dates. PATCO has three business days to load employees’ FREEDOM Cards. If you want to upload RideECO benefits to FREEDOM Cards, please download the 2019 schedule here. Key Card Pilot Expands to Several Zone 3 Stations SEPTA is continuing to expand the implementation of the SEPTA Key fare system and announced that they are expanding their Regional Rail “Early Adopters” program to include several Zone 3 stations for October passes. Riders who travel from one of the 14 selected Zone 3 stations along the Regional Rail system will be able to assist SEPTA by testing Key Cards during their regular commute. Some stations will have both monthly and weekly passes available in advance of October 1. A complete list of the eligible stations and fares available can be viewed here. Riders who board at one of these 14 pilot stations may purchase their Zone 3 Key Card TrailPass from their local station, one of the five Center City sales outlets, or the SEPTA Key Mobile Fare Kiosk. For more details on SEPTA’s Regional Rail Early Adopters program, please visit SEPTA’s website: http://www.septa.org/key/updates/zone-3-rrd-adopter.html. Upcoming important dates associated with the implementation of SEPTA Key:
As SEPTA moves ahead with Key, RideECO has received regular inquiries from our clients. Riders are seeing more fare readers installed at Regional Rail stations. The Key Card can be used to board all transit (which includes bus, subway, el, trolley, and the Norristown High-Speed Line). Note that if you have staff that uses SEPTA Key Cards, they may redeem RideECO vouchers in person at several more locations than before. A link to the sales locations and operating times is available here. RideECO vouchers can be redeemed for loads to the SEPTA Key Travel Wallet as well as for monthly and weekly TransPasses on the Key Card. The most common question we’ve been receiving is, when will RideECO be able to electronically load Key Cards? RideECO staff has been communicating regularly with SEPTA and they are not yet prepared to test the loading of Key Cards with RideECO benefits. When they are, we expect to mimic the same process that we currently utilize for loading PATCO FREEDOM Cards. Until SEPTA is ready to test this process, please continue to order vouchers for staff. Or, consider changing to RideECO Select for our prepaid commuter benefit card. The RideECO prepaid card offers the greatest flexibility for your employees and can be redeemed at any SEPTA Key kiosk, online at www.SEPTAKey.org, or in person at Key Sales outlets that accept credit cards. Want to learn more about the RideECO prepaid card? Email RideECO here. We will share updates on Key with our clients as they become available. And, don’t worry if you are left with a supply of vouchers once SEPTA Key moves toward 100% implementation – RideECO will accept those unused vouchers back as a face-value credit on your company’s account. Fare Update for Airport Line Commuters - UPDATED with New Date With the introduction of SEPTA Key on Regional Rail, riders who commute to one of the terminals (A-F) at Philadelphia International Airport will need to purchase a different fare, effective December 1. Weekly and Monthly TransPasses will no longer be accepted for non-holiday weekday travel on the Airport Line. Starting in December, Zone 1 Weekly or Monthly TrailPasses will be required to commute between Center City and PHL. The Weekly Zone 1 TrailPass ($ 28.25) will be available for sale starting November 28. The Monthly Zone 1 TrailPass ($ 105.00) will be available for sale starting November 20. This change does not impact riders that commute via the Eastwick station. Please be aware that if riders currently use a Key Card with a TransPass to commute to PHL, they’ll simply change their purchase to a Zone 1 TrailPass. It is important to note that TransPasses will continue to be valid for ANYWHERE travel on Regional Rail during weekends and major holidays. More details on this fare modification in Tariff¬ Number 154, Supplement Number 40. Reminder: RideECO's fulfillment partner, Edenred Commuter Benefit Solutions, has moved!
The RideECO Commuter Benefit program utilizes the services of Edenred Commuter Benefit Solutions for our ordering, printing and fulfillment of RideECO orders. Edenred moved offices effective July 28, 2018. Please update Edenred’s contact information and accounts payable records to reflect the new address: c/o Edenred Commuter Benefit Solutions 265 Winter Street 3rd Floor Waltham, MA 02451 Customer Support: 800-531-2828 Should you have any questions or concerns, please reach out to us. SEPTA Key Update SEPTA’s implementation of their new payment system—SEPTA Key—is moving forward. As of April 30, token sales have been discontinued at all SEPTA-operated sales outlets. However, riders may continue to redeem any tokens they have after this date. Another option is to convert tokens to funds in the Key Card Travel Wallet. Riders may redeem tokens at any fare kiosk and the value of the tokens will be deposited into this wallet. On May 4, SEPTA will be enhancing the Key Card system to reduce the minimum load from $10 to $5. In addition, Key Cards will now cost $4.95. Riders registering their card within 30 days of purchase will receive reimbursement of $4.95 onto their Key Card account (making the cost of the card free). Registration offers balance protection of the pass and/or Travel Wallet funds in the event of loss or theft. Protect the value of your Key Card by registering it at www.SEPTAKey.org or by calling 1-855-567-3782. As SEPTA moves ahead with Key, RideECO has received regular inquiries from our clients. Riders are seeing more fare readers installed at Regional Rail stations. Currently the Key Card can be used to board all transit (including bus, subway, el, trolley, and the Norristown High-Speed Line). Note that if you have staff that uses SEPTA Key Cards, they may redeem RideECO vouchers in person at several more locations than before. A link to the sales locations and operating times is available here. In addition, commuters may now redeem RideECO vouchers for loads to the Travel Wallet on the SEPTA Key card. This is in addition to buying monthly and weekly TransPasses on the Key Card. Please note, if your employees commute via SEPTA’s Regional Rail, they will continue to utilize “legacy” TrailPasses at this time. The most common question we’ve been receiving is... The IRS recently released Publication 15-B: Employer's Tax Guide to Fringe Benefits. This document provides guidance to employers on the tax treatment of fringe benefits. RideECO clients will want to refer to page 20 for specifics of the Transportation Fringe Benefit (132f). Of note in this year's Publication 15B:
You may download a copy of Publication 15-B in the link below. Should you have any questions about the impacts to your company's RideECO commuter benefit, please contact a licensed accountant or tax attorney for guidance.
Please note, this website and associated documents are not meant to constitute tax or legal advice. Please contact a licensed professional with questions.
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