About Ventra Transit Benefits
The Ventra Transit Benefits Program is a great way to extend a money-saving benefit to your employees. Employees who participate in the Ventra Transit Benefit Program don’t have to pay income taxes on the pre-tax income they set aside for their commute – up to $300 per month. And they can only get this benefit if you sign up as an employer today. It’s easy – just fill out this form!
Employer Frequently Asked Questions
What is Transit Benefits?
The IRS created a program to extend tax-free benefits to assist with employee’s commuting costs.
Here in the Chicagoland area, employers can offer the Ventra Transit Benefits Program which allows their employees to pay for their transit rides using pre-tax dollars on CTA, Metra and Pace.
This program is based on a federal tax law designed to encourage the use of public transit. Internal Revenue Code Section 132(f) “Qualified Transportation Fringe” allows employers to offer up to $300 per month in qualified commuter benefits tax-free. The program lets employees pay for their transit rides using pre-tax dollars – up to $300 per month ($3,600/year).Commuter benefits are intended to encourage the use of alternatives to driving alone to work to reduce congestion, reduce emissions, and improve accessibility to businesses.
How does the Ventra Transit Benefits Program Work?
Each month your designated employees will receive the elected value or pass loads. Your company’s bank account will be debited for the aggregate amount elected for your employees.
How many employees do I need to sign up for Ventra Transit Benefits?
There is no minimum. Your company can sign up for transit benefits with just one employee.
My employees use CTA, Pace and Metra. Can Ventra pre-tax transit benefits help all of them?
Yes! Employees can use Ventra to pay fares on CTA and Pace, and Metra riders can download the Ventra App to purchase Metra Monthly Tickets.
Can my employees get their benefits automatically each month?
Yes, employees can set up a recurring reorder of either transit value or CTA/Pace 30-Day Passes. Employees just need to set up their monthly deduction and Ventra handles the rest. The only time you would need to log back in is to make a change to or suspend their withholding.
Do I need to keep detailed tax records?
No. Unlike Flexible Spending Accounts (FSAs), no complex record keeping is required for commuter benefits. There is no special IRS reporting, such as W-2 or 1099 statements.
Do I have to wait for open enrollment to sign up for Ventra Transit Benefits or make changes?
No! Employers can sign up for the Ventra Transit Benefits Program at any time and employees can make changes to their withholding at any time of the year.
How long would it take to set up my company’s own Ventra Transit Benefit program?
Please allow 7-10 business days for your request to be processed and funding source to be confirmed. New accounts are typically ready to be used the following month.
When my account is activated, can I add employees and make changes at any time?
No. Changes may be made to employee elections between the 5th and the 20th of each month for the following months benefits. During this window you may add or remove employees and make any changes to elected benefits.
Can employees redeem transit benefits for cash?
No. Under the Ventra Transit Benefits Program refunds are only credited back to the employer.
We're here for you!
If you are an employer who would like more information or have any questions about the Ventra Transit Benefits Program, contact us at:
tbenrollment@transitchicago.com
312.681.4005