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Commuter Savings Program 2012 Pre-tax Maximums Announced
The American Recovery and Reinvestment Act of 2009 had temporarily increased the monthly pre-tax maximum limit for transit orders to $230.00. This monthly pre-tax transit limit is scheduled to expire at the end of 2011 if Congress does not act to extend it. If the limit is not extended, the transit amount will be reduced to a pre-tax limit of $125 per month. Any transit election amount exceeding $125 will be deducted from the credit card that is on file with the Commuter Savings Program (CSP) vendor, Fringe Benefits Management Company (FBMC). Participants are encouraged to visit the FBMC website at www.myfbmc.com before the January benefit cut-off date of December 10, 2011, and review their order, as well as verify that they have a valid credit card on file.
Participants who do not currently have a valid credit card on file should go to the FBMC website before December 10, 2011, and enter a valid credit card. If you have any questions, please contact the Illinois FBMC Client Liaison at (217) 524-0459 or visit www.myfbmc.com to make changes to your commuter benefit election.
In addition to the change in the transit expense limit, there will be a cost-of-living adjustment for the 2012 parking benefit. The pre-tax parking limit will increase to $240 per month, effective January 1, 2012.