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2012 Transportation Benefit Program– Non-Colorado Employees –UCAR is pleased to continue the 2012 Transportation Benefit Program to our employees living outside of Colorado.
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WageWorks Commuter Benefits ProgramIf you want to continue enjoying significant tax advantages for commuting expenses, you must register and place your monthly commuter order with the WageWorks Commuter Benefits Program. Important Dates to Remember
If you have any questions or need assistance during this transition, you should contact the UCAR Benefits Office by e-mail at hrbenefits@ucar.edu. Benefits Fact SheetCOMMUTER BENEFITS PROGRAMThe WageWorks Commuter Benefits Program was made to comply with IRS regulations. Mass transit expenses are not eligible for reimbursement by a paper claims process. Under the Commuter Benefits Program, WageWorks will use your mass transit contributions to buy your metro card or commuter train pass in advance and mail it to your home or establish an account balance on a WageWorks Commuter Card. You Can Save Time And Money! You can manage your Commuter Benefits Program online at www.wageworks.com and pay your commuting expenses a number of different ways.
WAGEWORKS COMMUTER BENEFITS PROGRAMThe Commuter Benefits Program is convenient and easy to use. It provides online ordering and home delivery plus direct payment – you don’t have to wait for reimbursement. You can start, change or stop your participation at any time. However, you must enroll by the 4th of the month to take advantage of the program for the following month. This monthly cutoff date is the same deadline for making changes and cancellations. Note: If you enroll in this program by December 4, 2011 deductions will be taken from your pay starting in January and used to pay for your January commuter benefits. Payroll deductions for commuter benefits are taken out of the first two pay periods of each calendar month.
Let’s say for example, you pay $250 each month for parking. Through the Commuter Benefits Program you withhold $250 from your pay, deducting $240 pre-tax and $10 on an after-tax basis. WageWorks would receive $250 and pay your parking facility in full. Enrolling in the Commuter Benefits Program Visit www.wageworks.com and select “Register with WageWorks now.” Complete the short registration process to create your profile. After you register, enter your User Name and Password to log on.
To place an order:
Then complete your order. Don’t forget to enter your e-mail address to receive confirmations. Enrolling during UCAR’s Open Enrollment You will contact WageWorks directly for all your commuter expense needs. You will contact them to register and determine which commuter program you would like to use. If you don’t order a monthly pass, there is the option to use the WageWorks Transit Card to fund up to $125 per month. In the past, you have enrolled in the commuter program through the UCAR Open Enrollment process by indicating how much you expected to use per month. With WageWorks, you will not be enrolling in the Commuter Program via the UCAR Open Enrollment Web site. Instead, you will contact WageWorks directly to place your order. WageWorks will notify the UCAR Benefits Office with the amount that was elected for that month. Upon notification of the amount, your deductions will be entered in the first two pay periods of the following month. For example: In June, Joe purchases $120 on a Commuter Card for the month of July. In the middle of June, WageWorks notifies the UCAR Benefits Office that Joe purchased $120 worth of commuter benefit on a pre-tax basis. A $60 deduction will be taken from Joe’s paycheck on each of the first two pay periods in July. If there is a third pay day in a month, that deduction will be $0. Another example: If Jane orders a $300 monthly pass from WageWorks, they will order the pass from the local transit authority. Since the allowed monthly maximum is $125, it will be deducted from Jane’s paycheck on a pre-tax basis. The additional $175 will be deducted on a post-tax basis. Both of these amounts will be split between the first two pay periods of the month. Please note: WageWorks is also the Flexible Spending Account vendor for Health Care and Dependent Care accounts. You must access the UCAR Open Enrollment site to make your 2012 Flexible Spending Account elections. Those elections do not roll over from year to year. If you have any questions, please contact
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