Commuter Reimbursement Accounts
**Mass transit CRA participants are no longer able to request a claim reimbursement for mass transit expenses. Participants may only use the Beniversal® Prepaid Mastercard ® for commuter benefit plan expenses. Claims will continue to be accepted for parking and vanpools.**
Commuter Reimbursement Accounts provide employees an option to direct before-tax dollars from their paycheck into an account to use throughout the year to help pay for eligible out-of-pocket mass transit and parking expenses. If you participate in a CRA, you will reduce your federal, state and local income tax liability because your elected contributions are not subject to these taxes.
Tax Advantage
There are two types of Commuter Reimbursement Accounts:
The Transportation Reimbursement Account (TRA) allows you to now set aside up to $315/month ($157.50/paycheck) in 2024 on a pre-tax basis to cover mass-transit expenses on any public transit commuter system. This includes New York City Transit Authority buses and subways, Long Island Railroad, Metro north Commuter Railroad, New Jersey Transit, Staten Island Rapid Transit, Port Authority Trans-Hudson Corp. (PATH), commuter and suburban bus services, Amtrak and certain ferry and registered van pool services.
The Parking Reimbursement Account (PRA) allows you to set aside up to $315/month ($157.50/paycheck) in 2024 on a pre-tax basis for parking expenses incurred near your place of employment while at work. It will also cover expenses incurred for parking near a location where you board mass transit.
BRI Commuter Tax Savings Calculator
Enrolling in the CRA
Benefit Resources, Inc. (BRI) is the current administrator of Pace University's CRA plans. Eligible employees may enroll through their UKG Ready Employee Dashboard (Portal > UKG Ready Employee Dashboard) under My Benefits > Enrollment > Life Change Event. Your enrollment must be received by the 15th of the month in order to be processed for the 1st of the following month.
The monthly amount(s) you elect will be evenly deducted from your semi-monthly paychecks. In order to receive a reimbursement, you can fax or mail to BRI a completed Commuter Claim Form (PDF) along with the appropriate receipts to the third party administrator. Any contributions unused during a particular month cannot be paid as taxable compensation.
Claims must be submitted with 180 days from the date of service incurring the commuting or parking expense.
Beniversal® Prepaid Mastercard ®
Benefit Resources inc. offers the Beniversal® Prepaid Mastercard ®. The Beniversal® card is a MasterCard "stored value" card. If an employee loses a card, it can be reported lost and his/her funds are guaranteed. The pre- and post-tax payroll deductions are automatically loaded onto the card each month, and the card can be used to purchase the choice of fare; from a single fare to a month's worth. Employees can purchase exactly the amount they need, and any unused amount rolls over to the next month. This encourages greater usage and tax savings. The Beniversal® Prepaid Mastercard ®can be used for both workplace parking and mass transit fees.
Making a Change to Your CRA Elections
Once you are enrolled in the CRA program, you can make the following changes:
- change or temporarily discontinue your monthly contributions
- add an additional post-tax contribution
- switch to the transportation or parking reimbursement account
- cancel your participation
Changes can be made at any time by completing the Commuter Enrollment/Change Form.
All changes made by the 15th of the month will be effective on the 1st of the following month and subsequently reflected in your paycheck. For example, if you make a change to your CRA by October 15, your change is effective on November 1 and will be reflected in your November 15 paycheck. If you make a change on October 16, your change is effective on December 1 and will be reflected in your December 15 paycheck.
You can obtain information on the status of your account by calling BRI at 1 (800) 473-9595. You may also check the status of your account online via secure login. Note: The Company Code is "paceuniv" (minus the quotation marks). The Member ID is your U#. The Password is your home Zip Code.
Separating Employees
An employee who participates in the Commuter Reimbursement Account (Mass Transit and/or Parking) will have until the end of the month following the month in which they separate from the University to use their BRI Beniversal®Prepaid Mastercard ® (or claim form, in the case of eligible Parking expenses) to pay for eligible commuting expenses. Once all claims have been reimbursed and/or card transactions have settled, remaining funds will be forfeited. Please contact BRI directly, at 1 (800) 473-9595, for further information regarding your account.