New 2008 Pre Tax Monthly Limit
for the TSA Program
Effective January 2008, the IRS will increase the pre-tax monthly limits for the TSA Program from $105.00 to $110.00.The total deduction amount will not change, only the pre-tax and post-tax rates will be affected. The employee will have an increased pre-tax savings resulting in a slightly higher net pay.
The changes are reflected in the following chart.
2008 TransitBenefit TSA Card – Express Bus Plans: Pre-Tax & Post-Tax Rates |
| Pay Frequency |
Pre-Tax 2007
|
Post-Tax 2007
|
Express Bus Plan 2007 |
Pre-Tax 2008
|
Post-Tax 2008
|
Express Bus Plan Total 2008 |
Weekly |
$ 25.38 |
$ 15.62 |
$ 41.00 |
$ 26.54 |
$ 14.46 |
$ 41.00 |
Bi-Weekly |
$ 50.77 |
$ 31.23 |
$ 82.00 |
$ 53.08 |
$ 28.92 |
$ 82.00 |
Semi-Monthly |
$ 55.00 |
$ 34.00 |
$ 89.00 |
$ 57.50 |
$ 31.50 |
$ 89.00 |
If you wish to make changes to your transportation deduction plan, you must complete a TSA Enrollment/Change Form and submit it to your College Human Resources/Benefits Office.
Effect of TSA Deduction on your TDA
Your TDA contribution will be reduced as a result of
your pre-tax TSA deduction. Please contact your College
Benefits Officer if you wish to make changes to your
TDA contribution.
Activating Your TSA Card
To activate your TSA Card, please contact the Chase
Automated Customer Service Center at 1-888-6067058.
You must have your TSA Card number and the last four
(4) digits of your Social Security Number available.
To access the service in English - press 1 or for assistance
in Spanish - press 2. You will be prompted to press
3 to activate your card. As soon as your card is activated
you must select a four-digit PIN. You may also activate
your card online at www.efundscard.com
Changing Your PIN
If you change your PIN #, it will take up to 48 hours
before the change is updated and you are able to use
your TSA Card.
Using Your TSA Card at the MetroCard Vending
Machine
• Select the type of MetroCard you
want.
• Select the "ATM Card" payment option.
• Insert your TSA Card into the MetroCard vending
machine slot.
• Enter your PIN.
• Verify the value of the MetroCard you want to
buy.
• Obtain receipt (optional)
Card Expiration
A new TSA Card will be issued every three years.
Suspending Your Transportation
Deduction, Canceling Participation in the TSA Program
and Termination of Employment
You may elect to suspend transportation deductions at
any time. However, administrative fees will continue
to be deducted while your TSA Card remains active. You
will be able to restart your deductions at any time.
You may elect to cancel participation in the TSA Program
at any time. You will have 30 days to spend down your
account balance. Any funds remaining after the 30-day
period will be forfeited. You may elect to re-enroll
in the program at any time and a new card and account
number will be issued.
Participation in the TSA Program will cease with termination
of employment. You will have 30 days to spend down your
account balance. Any funds remaining after the 30-day
period will be forfeited.
NOTE: Administrative fees will continue to be deducted
for an additional 30 days while your TSA Card remains
active. This applies to those who cancel their participation
in the program or those who terminate employment.
You must see your College Benefits Officer regarding
any changes to your enrollment in the TSA Program.
Leave Status
Paid Leave - if you are on a paid leave or an extended
vacation, you may elect to suspend your transportation
deductions. However, in order to maintain an active
TSA card, administrative fees will continue to be deducted.
Unpaid Leave - if you are on an unpaid
leave, your participation in the TSA Program will be
automatically cancelled. You will have 30 days to spend
down your account balance. Any funds remaining after
the 30-day period will be forfeited. You may elect to
re-enroll upon your return to paid status. A new card
and account number will be issued.
If you have any questions or need additional
information, please contact the Benefits Office at 772-4516.