NYS-Ride: Monthly Pre-Tax Limit Reduced to $125
The $230 monthly pre-tax transit limit expired as of December 31, 2011. Since the limit was not extended by Congress, it reverted to the IRS-determined limit of $125 a month and any election amount over $125 will be deducted from your pay on an after-tax basis. Please remember that the limit change does not mean that you have to change your order, as your NYS-Ride account will always accommodate the full cost of your commute, regardless of the limit. However, you will receive the tax credit and savings only for the portion deducted pre-tax from your pay. If you wish to make changes to any of your future orders, please log into your account at www.nysride.com or contact customer service at 1-866-428-7781 (TDD 866-353-8058).A Money-Saving Transportation Benefit for NYS Employees and a Cleaner New York
NYS-Ride (pronounced NICE Ride) allows employees to save money on a monthly basis on eligible public transportation expenses through pre-tax payroll deductions. The program is sponsored by GOER and administered by WageWorks.
WageWorks purchases public transportation fare media (such as bus, subway, vanpool passes, and fare cards) from transit authorities – and employees choose exactly what they need.
NYS-Ride Qualifying Commuter Costs Include:
- Van Pools
- Ferries
- Buses
- Subways
- Trains
The benefit could save workers up to 43 percent of every dollar spent up to the statutory limits.
To find out if you are eligible for the program go to www.nysride.com or call 1-866-428-7781 and enroll now.
Commuter Card Available:
NYS-Ride program participants can also use the WageWorks Commuter Card to purchase tickets and passes at MTA ticket vending machines and many other transit providers in the greater New York Metropolitan Area including NJ Transit, NY WaterWay and Amtrak.
The WageWorks Commuter Card is a permanent stored value card, or "electronic voucher," that can be used to make purchases at transit agency ticket vending machines and ticket windows and works just like a traditional credit card or debit card used at those same machines. Program participants determine how much to put on the card each month and any unused balance remaining on the card carries forward for future use.
If commuting patterns change at different times of the year (for example, during the summer months or when vacationing), participants may find the flexibility of the Commuter Card an attractive option because they can use the card to purchase different fare options depending on their commute. Any balance not used in a month stays on the card for use in a future month.
Also, participants who purchase the 30-day MetroCard through the NYS-Ride program may want to use this card to purchase their 30-day MetroCard. The MTA has an insurance program available to those who use the WageWorks Commuter Card to purchase their card. If a participant loses the 30-day MetroCard, the MTA can deactivate the card and have a pro-rated portion of the unused card refunded to the participant's WageWorks Commuter Card to purchase a new MetroCard. This insurance program is only available for the 30-day MetroCard. More information about the MTA insurance program is available at http://www.mta.info/metrocard/insurance.htm
To learn more about the Commuter Card, please log into www.nysride.com or call 1-866-428-7781.