Employers and employees will notice that the transit benefit allowance increased to $230 a month beginning March 1, thanks to the recently-enacted economic stimulus package that raises the tax-free or pre-tax transit benefit for workers from $120 a month. The new federal legislation enables employers to offer their employees up to $230 a month, or $2,760 a year, in public transportation benefits, or allows an employee to receive the transit benefit as a pre-tax payroll deduction, or some combination of the two.
According to Metro, approximately 400 federal agencies and 4,000 private employers participate in the SmartBenefits® program. Their participation provides transit benefits to more than 189,000 employees in the region.
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