Commuter Benefits (Illinois Residents)
Commuter benefits allow you to set aside pre-tax funds to pay for eligible transit and parking expenses related to commuting to work. Illinois residents are now able to enroll in transit and/or parking benefits. Once enrolled, you will have a parking account and/or a transit account. Each account is separate, and funds cannot be transferred. These benefits are limited to your expenses only. Spouses and dependents are not eligible for commuter benefits.
You can expect the following when you enroll in IL Commuter Benefits:
- Tax Savings – Monthly contributions are pre-tax.
- Convenience – NetBenefits CommuterCards are an easy and convenient way to pay for qualified commuter expenses.
- Flexible Spending – Employees can use a secondary form of payment when the purchase exceeds their monthly election.
Monthly Maximums
The IRS sets the maximum monthly pre-tax deduction limit, which reflects the maximum monthly limit that may be excluded from an employee’s income for qualified commuter benefits. The 2024 IRS monthly maximum pre-tax contribution and reimbursement amount is $315 for parking and a separate $315 for transit. Pre-tax deductions are withheld from the last paycheck of each month.
NetBenefits CommuterCard
CF Industries partners with Fidelity to administer your commuter benefits. After you enroll at www.NetBenefits.com, you will receive their CommuterCard. The NetBenefits CommuterCard can be used to:
- Purchase mass transit passes, tokens, or fare cards at a valid transit fare terminal
- Pay for parking expenses at or near your work location or the nearest commuter parking
- Link to your NetBenefits online account and track your activity
Whenever you swipe the card, the transaction will be directed to the appropriate account (transit or parking) based on the merchant. Your election must be entered prior to the 15th of the month to have a commuter deduction for that same month.
If the amount of funds on your card does not cover the full balance of your purchase, you can split the cost by paying with the balance on your CommuterCard, then using a secondary form of payment for the remaining balance.
Contact 833-299-5089 if you experience any issues with reimbursement.