Tax Day is Around the Corner
April 13, 2017
CHICAGO – Tax day is as American as apple pie, right? As it approaches, the RTA is reminding riders about a tax benefit that is good news for both employers and employees: a transit benefits plan.
Offering transit benefits is a win-win for both employees and employers. Riders can save as much as 40 percent every month when they set aside up to $255 as a pre-tax benefit to commute on CTA, Metra, and Pace as well as other transit agencies across the region. Riders pay less for riding transit and employers have an additional tool to help them recruit and retain talent and help their bottom line. Transit benefit programs save employers an average of 7.65% of the pre-tax deductions on their payroll taxes. The RTA encourages riders whose employers do not participate in such a plan to share this information with them so they can enroll.
Research shows that young professionals in Chicagoland prefer to live in urban areas and commute to work by public transportation – in fact, more than 62% of those who work in the Loop and South Loop take transit. Taking public transportation can save time and money, in addition to offering environmental and health benefits.
The RTA Transit Benefit Fare Program serves more than 1,400 companies throughout the Chicago region. More than 21,000 employees at these companies enjoy the benefit of saving money while commuting with the CTA, Metra, Pace, South Shore, Amtrak, Chicago Water Taxi and many other public transportation providers. This low-cost program is easy for companies to administer and manage, and provides a one-stop shop for commuter’s transit needs.
To learn more about transit benefits and the RTA Transit Benefit Fare Program visit http://www.mytransitbenefit.com or contact us at (312) 913-3230.