BASIC’s Parking & Transit Plan (P&T Plan) allows eligible employees to select tax-free parking and mass transit benefits, much like a cafeteria plan, saving you and your employees thousands of dollars in taxes every year. Choosing BASIC as your P&T Plan administrator means you’ve selected the best. Best in service with guaranteed compliance!
Parking & Transit Administration Options
Parking & Transit Regulations
Parking & Transit Plans (P&T) are part of the IRS Section 132. P&T is an employer-sponsored benefit that allows employees to set aside money on a pre-tax basis for qualified transit/commuter passes, parking, vanpooling, and commuter highway vehicles.
The IRS regulates what services or purchases are eligible under Section 132. Parking and Transit benefits have a maximum contribution limit under Section 132. The IRS sets maximum monthly limits for both parking and transit, current IRS limits can be found at our Regulations Page.
Give your employees the ability to leverage pre-tax savings, request a Parking & Transit proposal today!