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...
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 credit on your account.
As Congress ended their 2017 legislative calendar, they passed a comprehensive tax reform bill. Unfortunately, several media outlets mistakenly reported that employers and employees had lost commuter benefits. This is incorrect. The tax reform legislation passed into law preserves section 132(f) of the tax code, which is the section of law that provides commuters with a transportation benefit like RideECO.
The Qualified Bicycle Commuting Benefit was suspended as part of tax reform through 2026. Several weeks after passage of the tax bill, the IRS released Publication 15-B: Employer's Tax Guide to Fringe Benefits. This document provides guidance to employers on the tax treatment of fringe benefits. Please refer to page 20 for specifics of the Transportation Fringe Benefit (132f). You can read more about Publication 15B and download a copy here.
RideECO completed research of our clients and learned that the RideECO Commuter Benefit is mostly discussed only during new employee on-boarding and annually at open enrollment. There is so much discussed during on-boarding and open enrollment that employees may not realize how beneficial the RideECO program is and miss out on valuable tax savings. In addition, the RideECO benefit can be modified throughout the benefit year and does not have the same “use it or lose it” restrictions as other benefits (i.e., FSAs).
We encourage regular promotion of the RideECO Commuter Benefit and can help you get the word out to your employees. Want RideECO on-site? We can be there. Want our assistance in doing email outreach? We can do that, too. All at no charge.
Employees move, work assignments change, and that can impact how an employee commutes. The more often you talk about RideECO, the greater the participation and results in an overall increase in savings for your company and your employees. Contact us for assistance.
April showers bring May flowers and the kickoff of many bike commuter challenges in our region. Throughout Southeastern PA, many of our partner organizations will be holding Bike to Work events on Friday, May 18th to celebrate National Bike Month:
- TMA of Chester County: Starting points at Exton Park Trailhead and Westlakes Trailhead (Berwyn); ride to Malvern. Details and registration here.
- Delaware County TMA: Ride to the Delaware County Courthouse for a fun-filled morning event to help promote commuting by bicycle. Details and info here.
- GVF: Starting points at Phoenixville Borough Hall and Norristown Transportation Center; ride to Valley Forge National Historic Park. Details and registration here.
- Clean Air Council: In partnership with Go Philly Go, PIDC and South Philly Bikes, ride to the Navy Yard’s Broad Street gate to learn more about tune-ups, safety and commuting by bike. Details and registration here.