SALARY REDUCTION AGREEMENTTransitchek Plan and Salary Reduction Agreement • May 5th, 2020
The Bryn Mawr College TransitChek Plan (the “Plan”) is a tax-free fringe benefit plan established under Internal Revenue Code (“IRC”) §132(f), as expanded by the Transportation Equity Act of the 21st Century, and is effective April 1, 1999. Active, regular, non-student full-time and part-time faculty and staff are eligible to participate in the Plan. The Plan allows eligible employees to set aside part of their salary on a tax-free basis to pay for certain work- related transit pass expenses. Only expenses for a qualified transit pass under IRC §132(f), which enable eligible employees to commute to or from work, are eligible for reimbursement under the Plan. The maximum salary reduction allowed is $265 per month.
