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TSB 2020-01 Non-DOT Transit Benefit Increase to $270

NON-DOT TRANSIT BENEFIT PROGRAM BULLETIN

BULLETIN:             TSB 2020-01           

DATE:                     November 19, 2019

SUBJECT:               Transit Benefit Monthly Statutory Limit Increase to $270

PURPOSE:              

This Bulletin provides notification and guidance regarding a change in the statutory limit of the monthly transit benefit for calendar year 2020.

Information:        

As of January 1, 2020, the maximum mass transit exclusion from income has been set by the Internal Revenue Service (IRS) at $270.

IRS https://www.irs.gov/pub/irs-drop/rp-19-44.pdf provides the relevant information on the transit benefit rules on page 14.

REQUIRED ACTION:

Notify your TRANServe Transit Benefit Manager of your agency’s timeline for implementing the statutory limit increase and ensure participant’s certified monthly commuting costs are current. If changes are necessary, participants must submit a recertification application through their agency Point of Contact to TRANServe.

If the January 2020 increase is authorized by your agency, your Transit Benefit Manager must be notified by COB November 25, 2019.   TRANServe can adjust the transit benefit to the monthly maximum statutory limit of $270.00 for the transit benefit starting the January 2020 benefit cycle.

CONTACT:  If you have questions about this bulletin, please contact your TRANServe Transit Benefit Manager.

Last updated: Tuesday, November 19, 2019