With Benefit Resource, Inc., Valiant clients now have access to a convenient and affordable commuter benefit solution.
What does the Valiant Solution with Benefit Resource Provide?
• Simple, low-cost commuter benefit solutions to help employers become compliant with the NYC Transit Law.
• Convenient access to mass transit and parking funds through the Beniversal® Prepaid MasterCard®.
• Comprehensive employer support for enrollments, education and program design.
• Easy-to-use login for plan management.
• Flexible funding options, including pay-as-you-go options to avoid employer pre-funding.
• 24/7 account access through BRiWeb.
• On-the-go support with the BRiMobile app.
• Personal support for questions through Participant Services by phone and live chat.
What is a Commuter Benefit Plan?
A Commuter Benefit Plan is a tax-free benefit authorized by Internal Revenue Code (IRC) Section 132(f), which allows employees to pay for certain workplace commuting expenses, including mass transit and parking, on a pre-tax basis. A Commuter Benefit Plan from Benefit Resource combines convenient access to funds through the Beniversal® Prepaid MasterCard® with compliant, streamlined administration.
What is the NYC Transit Law?
As of January 1, 2016, entities with twenty or more full-time employees working in New York City (including the boroughs) must offer qualified pre-tax transportation benefits to their employees.
Basic requirements of the law:
To be compliant with the law, employers subject to the law must:
(1) Make a pre-tax transportation benefit available to all full-time employees working in New York City.
(2) Provide a written offer to eligible employees.
(3) Maintain documentation for two years to support who was offered benefits and who elected benefits.
To learn more about the NYC Transit Law, download the NYC Transit Law Toolkit from Benefit Resource.
Who is Benefit Resource, Inc.?
Valiant has partnered with Benefit Resource to provide commuter benefits and other pre-tax benefit account programs. Benefit Resource is an independent company based in Rochester, NY with a secondary office in New York City. Benefit Resource is focused on the administration of tax-free benefit account services to over 3,500 employer plans throughout the country. In 2000, Benefit Resource developed the first electronic transit payment card in New York City with the eTRAC Prepaid MasterCard. Benefit Resource continues to expand its product offering and is the first administrator nationwide to offer contact less payment technology that represents the next phase in transit and parking payments.