Now, your non-driving commuters can get a break on a bus fare. Today, many companies reimburse employees for their parking costs.
Now, businesses have an opportunity to help their bus-riding employees as well.
The Employer Fare Deal Program from Centro allows you to offer your employees convenient, cost-efficient transportation to and from work. As a fair gesture, you simply make bus fare available to your employees right at work. This includes our monthly Centro Passports, Debit cards and tokens.
The Transit Benefit Law provides employers with a monthly tax-free transit allowance of $245 per employee to support the use of public transit. So with this tax advantage you can choose to subsidize part or all of your employees' bus fare. And in doing so, you can enjoy a nice tax savings, in addition to defraying your employees' commuting costs - A Fare Deal. Or, if you’d prefer, you can allow you employee to pay for their transit costs with pre-tax dollars, up to $245 per month. There is no cost to the employer.
How do you benefit as the employer?
- You have the opportunity to provide equal support to employees who drive to work, as well as those who do not.
- It's a program that can be used as an aid to recruitment and morale.
- You get savings on parking costs and parking subsidies when employees switch to lower-cost transit.
- It encourages more employees to take the bus to work, thus enabling more parking for customers and clients.
How will your employees benefit?
- They receive reduced transit costs for Centro Transportation.
- Better morale, knowing that they are getting a break along with driving employees.
- Savings on gas, parking, maintenance and other costs associated with driving.
- With a subsidy, driving employees may now decide to become Centro riders, which is a more convenient and less stressful commuting method.
Getting started is easy. Call Centro at (315)442-3374 to speak with a representative and learn more about benefiting from the Employer Fare Deal Program.