Bringing Commuter Benefits plans into focus.
If your employees take mass transit to work, pay for parking or carpool, Clarity SmartRide will reduce their commuting costs and save your company money in the process.
What It Is
Clarity SmartRide is a commuter benefits plan that enables participants to set aside a portion of their income on a pre-tax basis to pay for their public transportation and parking commute to work. With Clarity SmartRide consumers can save an average of 30 percent off their commute.
Clarity SmartRide also saves your company money. When employees pay for their commute with tax free dollars the company can reduce their payroll taxes by as much as 7.65% on every dollar contributed to the plan.
Commuter Benefits and Carpool Plan Administration: How It Works
An employee elects a monthly contribution for transit and a separate contribution for parking up to the IRS limit. Clarity will update your payroll provider and the funds are deducted from the employees check on a pre-tax basis saving the employee on average 30% in taxes. Employees can start, stop or change their elections on a monthly basis. Unused funds carry over from month-to-month.
Upon enrollment a Clarity Card is mailed to the employee’s home. The card is programed to work anywhere you pay for mass transit, parking or ride share programs. Simply swipe your card and save, it’s that easy!