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Date: January 9, 2012

Bulletin Number: CU-439

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Subject

2012 CUNY Pre-Tax Transit Rate Changes

Purpose

To notify CUNY agencies of 2012 CUNY Pre-Tax Transit rate changes pursuant to IRS Publication 15-B (2012)

Affected Employees

CUNY employees enrolled in the CUNY Transit Benefit Transportation Spending Account Program who have a CUNY Pre-Tax Transit Benefit (code 438) biweekly deduction which currently exceeds $62.50.

Effective
Date(s)

Institution Paychecks dated January 12, 2012.

Background

The CUNY Office of Employee Benefits has requested OSC to adjust pre-tax and post-tax transit benefits so as not to exceed 2012 pre-tax benefit limits as outlined in IRS Publication 15-B (2012).

OSC Actions

At the request of CUNY, OSC has automatically adjusted the bi-weekly CUNY Pre-Tax Transit Benefit (code 438) deduction amount to $62.50 for those employees whose Pre-Tax Transit Benefit deduction exceeds this amount.  The employee’s CUNY Post-Tax Transit Benefit deduction (code 439) amount was thereby increased by the same amount in which the pre-tax benefit was decreased so as not to interrupt transportation benefits to the employee.

Agency Actions

Notify affected employees.

Questions

Questions regarding the CUNY Transit Spending Account Program should be directed to the CUNY University Benefits Office at (646) 313-8231.

Questions regarding this bulletin may be directed to the Payroll Deduction mailbox.