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Pre-Tax Parking Benefit
Benefits & Compensation
Pre-Tax Parking Benefit
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I'd like to offer pre-tax parking benefit to our EEs. We already have a pre-tax transit system in place. The company wants to run its pre-tax parking program in house. Does anyone have experience d
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Pre-Tax Parking Benefit

posted at 3/12/2009 11:38 AM EDT
Posts: 59
First: 9/5/2008
Last: 9/4/2009
I'd like to offer pre-tax parking benefit to our EEs. We already have a pre-tax transit system in place.

The company wants to run its pre-tax parking program in house. Does anyone have experience doing this?

Any help greatly appreciated. I am wondering if it's such a big administrative nightmare or if it's doable considering we have 75 EEs at this location and 55 EEs in another city.

Thanks for your help.
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Pre-Tax Parking Benefit

posted at 3/12/2009 8:10 PM EDT
Posts: 1047
First: 4/11/2002
Last: 9/14/2011
I'm not sure why you would want to run it in house. Assuming decent participation, you're going to be well above the break even point of outsourcing it out to an administrator.
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Pre-Tax Parking Benefit

posted at 3/13/2009 5:09 AM EDT
Posts: 59
First: 9/5/2008
Last: 9/4/2009
mainly because the company has this mentality that if it's outsourced - it is equivalent to an expense fort he Co.
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Pre-Tax Parking Benefit

posted at 3/13/2009 8:17 AM EDT
Posts: 1047
First: 4/11/2002
Last: 9/14/2011
Have the administrator show the decision maker the pre-tax savings and how it offsets the administrative costs. I'm sure they have examples of pre-tax plans that aren't communicated properly (no offense, but your company is not going to be an expert in this field) and how low participation is and how little savings the company achieves. Then throw in the legal component if something goes wrong..... It's all about opportunity cost.
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