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The Transit Benefit Fare Program is based upon the Transportation Equity Act for the 21st Century (TEA-21) and IRS code section 132(f). It allows employees to deduct up to $115 per month from their paychecks pre-tax to pay for their transit fares.
With the pre-tax deduction, employees can save up to 40% on their annual transit spend.
Because the deduction occurs pre-tax, employers save up to 10% from reduced FICA and unemployment taxes paid.
The Chicago Card Plus can be used in the program, either as a Pay-Per-Use or as a 30-Day unlimited ride pass.
See your Human Resources Department today about signing up for the program, or call the Transit Benefit hotline (312) 681-3093.
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