GHO - 2024 Employee Benefit Guide (FINAL 6.26.2024) SP

COMMUTER BENEFITS

GHO also offers you the opportunity to make pre-tax contributions to a Qualified Transit Expense Account, and a Qualified Parking Expense Account, via convenient payroll deductions. You can make pre-tax contributions up to $315 for mass transit, and $315 for parking. Account contributions may be used to pay for qualified work-related transit and parking expenses incurred while you are employed by GHO. The following expenses for transportation provided to an employee are eligible under a Qualified Transit Expense Account: x Commuter highway vehicle (e.g. van pool) x Mass transit facilities (e.g. bus, train, subway, ferry) Expenses for parking are eligible under a Qualified Parking Expense Account provided to the employee on or near the business premises of the employer or on or near a location from which the employee commutes to work by car pool, commuter highway vehicle, or mass transit facilities. It does not include any parking on or near the property used by the employee for residential purposes. It also does not include expenses for anyone other than the employee.

Plan Features x Balance rolls over from month to month and year to year for transit expenses x Pre-tax contributions lower your taxable income x Post-tax contributions can be made if your expenses exceed the pre-tax limits x Pre-tax contributions are credited and available for use each payday

Plan Limits It is important to note that your pre-tax deduction is limited to the amount you spend on public transit or parking to commute to work each month not to exceed $315 per month for transit and parking respectively. Your taxable base salary will be reduced by your election amount and the amount deducted will be credited to your account.

ACCOUNT TYPE

ELIGIBLE EXPENSES

MONTHLY CONTRIBUTION LIMITS*

ACCESS TO FUNDS

Transit Account

Between $10 and $315 on a pre-tax basis Any amount above $315 will be deducted post-tax** Between $10 and $315 on a pre-tax basis Any amount above $315 will be deducted after-tax **

x

Train, bus and subway passes (MetroCard's)

x

Uber/Lyft ride sharing

Request reimbursement up to the maximum monthly amount allowed per month

Parking Account

x

Parking at or near your work location or mass transit (used for commuting)

*Your contributions are deducted per paycheck. **Must be elected as an after-tax benefit For questions please contact Participant Services at 800.473.9595 or log in to benefitresources.com

For additional plan information, please refer to your detailed plan design provided by the carrier. In the event of a discrepancy, the carrier Plan Document shall prevail.

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QUESTIONS? Call BenefitsVIP at 866.284.2053