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. |
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