The State of New Jersey Commuter Tax Savings Program (Commuter Tax$ave) is a program available under code 132(f) of the Federal Internal Revenue Code. The plan allows you to set aside pretax dollars for eligible mass transit and commuter parking expenses. The pretax dollars are not subject to Federal Income, Social Security and Medicare taxes, thereby saving you money.
How it works:
- Set aside before-tax dollars to pay for commuting expenses. Expenses must be incurred for traveling to and from work via mass transit and/or commuter parking
- The Tax$ave Commuter program is administered by TransitCenter and does not require you to submit claims for reimbursement; you prepay for commuting services. The plan delivers the benefits in the form of tickets, payments cards or vouchers, which are mailed to your home.
- 2017 reimbursement rate = up to $255 per month for Mass Transit Expenses and/or up to $255 per month for commuter parking expenses.
- Election enrollments and changes are allowed on a monthly basis
- Employee elections in the Commuter Tax$ave program are irrevocable. The benefit must be utilized while the employee is an active member of the program. Any funds that are not utilized at the time of cancellation or termination are forfeited.
Eligibility and Enrollment:
- Regularly appointed full-time employees are eligible to enroll in the program.
- An eligible employee may enroll by calling Payroll Services at 848-445-2113.