TRANSIT ORDINANCE MANDATES for New York City Companies

New Transit ordinance was passed for Jan 1, 2016 implementation date.  Any NYC Company with 20 or more full time employees must offer a Transit/Commuter benefit so they can pay for commuting to work.  If you are setting these up for clients you might as well throw in Flex and Dep Care.

“In October of 2014, the New York City (NYC) Transit Ordinance, also

known as the New York City Local Law 2014/053, was signed into law.

_The ordinance mandates that NYC companies with 20 or more full-time

employees (working an average of 30 hours or more per week) must offer

pre-tax transit benefits by January 1, 2016.”

 

If you are mandated by this law, you will be essentially forced to set up a flexible spending account, and if you are doing that, you might as well offer an FSA/flex/dependent care plan – it is the only tax break the government gives anyone on medical expenses.