Transportation Benefit Plan

The A&B Transportation Benefit Plan is designed to help you reduce your commuting costs. The Plan, made possible by recent changes in the IRS Tax Code, allows you to pay for mass transit fares or parking costs related to your regular commute using pre-tax dollars.

How The Plan Works

If you incur commute expenses on a regular basis, you may enroll in either the Plan's Commuting or Parking benefits by completing the appropriate enrollment form(s).

When you complete the form(s), you will need to indicate the amount you would like withheld from your pay on a pre-tax basis specifically for these expenses. The amount you elect to set aside will be deducted from your pay before federal and state withholding taxes are calculated.

To receive reimbursement for eligible expenses (as described below), you must submit a claim form—along with your receipts or tickets—at any time throughout the year, but not later than March 31 of the following calendar year. Because the reimbursement you receive is not taxed, your commute and/or parking costs are paid tax-free.

You may change your election three times a year; the change will take effect on the next April 1, July 1, or October 1. To make an election change or to end participation, you must send or email your request at least 30 days prior to the effective date to your local Human Resources Representative.

You may stop participating at any time; however, you may not re-enroll until the following year. Any unused balance remaining at the end of the Plan Year cannot be refunded to you and will be carried over into the new Plan Year. Please note that if you have any rollover of funds from one year to the next, you must enroll in the Transportation Benefit Plan for the next year in order to access those funds in your account.

What The Plan Covers

The maximum monthly amount for which you can claim reimbursement is based on the type of expenses incurred. You can claim up to...

• $230 per month for Commuting expenses, and/or

• $230 per month for Parking expenses

... as described below.

Note, however, that your reimbursement will not exceed the actual amount of the expense(s) you incur. Let's say you take transit to work and contribute $60 a month to your transportation account. If your actual commuting expense was only $40 one month, you will be reimbursed $40. On the other hand, if your actual expense was $60 the following month, you could receive the full $60 provided you had enough money in your account.