Transportation & Parking Administration

A tax-favored Transit & Parking plan allows your employees to deduct eligible work-related mass-transit and parking expenses on a pre-tax basis. Employees will see an increase in their take-home pay due to the reduction in Federal and FICA taxes. Employers will save on FICA taxes and benefit from providing an added bonus to employees.

Employees will receive a deduction from their paychecks for the election amount. The employee would then send a claim form the O.C.A. and we will direct deposit the reimbursement amount into their personal bank account.

Employees can reduce their taxable income and avoid paying Social Security and Medicare Tax (7.65%) and Federal Income Tax (15% to 40%) by enrolling in a company sponsored Section 132 Benefits Plan.

O.C.A. Transit & Parking Services includes:

• Case setup/Employee Education & Communication Services
• Online /Onsite Enrollment (including personalized enrollment kits)
• Provide all legal documents and administrative forms
• Daily Claim Adjudication
• Payments via EFT
• Online participant Inquiry and reporting
• Online secure Employee portal
• Online secure Employer/Broker Module and reporting

 

Back to top