Industry-leading employer benefits provider Edenred is here to help employers comply with the new law by setting up programs that benefit both employers and employees
BOSTON, Dec. 13, 2022 /PRNewswire/ -- Philadelphia is about to become the latest city in the United States to require businesses to provide a commuter benefits program for employees thanks to a new law passed earlier this year by Philadelphia City Council.
Starting December 31st, the new commuter benefits law will go into effect. Good news for employers, the mandate will require businesses with 50 or more covered employees to offer employees a pre-tax payroll deduction to help them commute to the office by public transportation. Employees who choose to ride a bike can also get reimbursements for qualified bike expenses.
Alternately, employers can offer a paid benefit for employees to ride public transportation. For a business to qualify, at least 50 employees must be in the city.
Employees who work 30 or more hours per week on average are eligible for the benefit if they have worked for the same employer for the past year. They have access to the pre-tax benefit that allows them to deduct money from their paychecks before taxes and use it towards commuting costs.
In 2022, the federal government allowed employees to deduct a maximum of $280 per month for commuter costs...
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