|Transportation Reimbursement Incentive Program (TRIP)
The Transportation Reimbursement Incentive Program (TRIP) is an easy to use employee benefit program that helps to reduce the burden of qualified transportation and parking expenses. Employees can realize substantial tax savings by paying less in income taxes. This tax-advantaged program allows you to save money on the cost of qualified transportation expenses to and from work.
There are two categories of eligible transportation expenses:
You can participate in either or both of these accounts simply by completing a TRIP enrollment form that can be found at ADP FlexDirect. The program provides reimbursements for transit passes (metro and railroad passes), vanpooling and parking expenses incurred for commuting between work and an employee’s residence.
The maximum contribution per month is $130 for public transit or vanpooling expenses and $250 per month for parking expenses. The maximum contribution per year is $1,560 for public transit or vanpooling expenses and $3,000 for parking expenses.
Only expenses for services that you incur during a calendar month while you are an active participant are eligible for reimbursement from your TRIP Accounts. This means that for each month you participate in a TRIP account, you can use the TRIP to pay for services incurred only during that month provided you were enrolled in the plan at the time the expense was incurred.
To receive reimbursement from the TRIP public transit, you need to complete a TRIP Claim Form (Transit) and to receive reimbursement from the TRIP vanpooling expenses, you need to complete a TRIP Claim Form (Parking).
Year-end unused contributions will NOT roll over to the new plan year.