With Metro Perk employers can offer employees a pre-tax benefit for transit use. Employers using Metro Perk reduce payroll taxes. Employees reduce their taxable income, saving approximately 30%. It is easy to set up and even easier to use.
|An employee informs his or her employer what kind of Metro pass they use each month using this form. It allows the cost of that pass to come out of his or her paycheck and should be given to Human Resources or Payroll or whatever department handles the benefit.|
|An employer deducts the costs of the passes from all participating employees and orders those passes from Metro.|
|Passes are handed out. Metro will make sure passes are available to employers before the month in which they are good.|
The savings add up
For employees – A $75 monthly pass as a real cost of $53 for people in a 15% tax bracket. People in a higher tax bracket could save even more. The full $75 is taken out of a paycheck, but before taxes. By avoiding tax on that money, most Metro riders will save about 30%.
Employee Participation Form
For employers – Every $1,000 reduction in payroll saves $76 in FICA, annually. (Savings dependent on payroll tax rates and wage base.) Social Security and other savings may also apply.
Employee Monthly Form
For more information contact:
NFTA-Metro Cash Management Office
Attn: Metro Perk
181 Ellicott Street Buffalo, NY 14203
phone: ( | fax: (716) 855-7311 | TTY/Relay 711 or (800) 662-1220