Mass Transit Transportation Spending Account
Any benefits-eligible associate who relies on methods other than their personal vehicle to commute to and from work may participate in the Mass Transit Transportation Spending Account (TSA). This benefit allows you to set aside money on a pre-tax basis to pay for transportation expenses (mass transit).
Mass Transit TSA Specifics
- Participation in this plan is voluntary.
- You are eligible to participate if you are a regular (not temporary) associate scheduled to work at least 20 hours per week. An eligible associate may become a participant on their first day of employment.
- You may contribute up to $265 a month to the Mass Transit TSA.
- Your contributions are made on a pre-tax basis through payroll deduction.
- You may change your contribution amount at any time during the year through Workday (by choosing the Benefits icon and then Benefits under Change). Changes are effective the first of the month following the effective date of the change.
- You may only access up to the balance in your Mass Transit TSA at the time an expense is incurred.
Using Your TSA
The IRS will only allow electronic payment for Mass Transit TSA services. You must use the BB&T Benefit Access Visa® Debit Card to purchase passes, fare cards, vouchers, etc. If your transit authority does not accept Visa, you will not be able to use the Mass Transit TSA. Unused amounts left in the Mass Transit TSA will carry over to the subsequent month.
Qualified expenses that can be claimed through the Mass Transit TSA include:
- Transit pass expenses: Money paid for passes, tokens, fare cards, vouchers, etc. when riding on mass transit (train, bus, subway or ferry). This includes publicly-owned vehicles, as well as vehicles owned by someone in the business of transporting people for hire, as long as the vehicle seats six or more adults (excluding the driver).
- Commuter highway vehicle (van pool) expenses: Money paid for rides in a commuter highway vehicle between your home and work. The vehicle must seat at least six adults (excluding the driver), and at least 80% of the mileage per year must be for transporting commuters between home and work or for trips where at least half of the seating is for work commuters.