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The RTA/CTA 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 $245
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 1-312-913-3230.
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If you are looking for general information about the RTA/CTA Transit Benefit
Fare Program,
click here.
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