Can I purchase the Eco Pass for myself or family members?
The Eco Pass can only be purchased by employers for their employees as a group employee benefit package. Family members are not eligible.
Can Eco Passes be purchased only for employees who ride the bus?
No, employers must purchase one pass for every full-time employee at a given worksite.
Is an Eco Pass less expensive than a monthly pass?
Considerably. Your employer may, at their option, charge you one low cost per month for usage of the Eco Pass.
What if I terminate my employment?
Your Eco Pass is only good as long as you are an employee of an Eco Pass employer. All passes must be returned to your employer upon termination or employees/employers may be assessed a fee for non-return.
What if I lose my pass?
Report your lost pass to your employer. Lost passes cost $25.00 for a first-time replacement and $50.00 the second time. Payment for lost/stolen passes is made to RTD at the time you obtain your replacement pass. If your pass is stolen and you present a police report to RTD, it will only cost you $5.00 the first time. You will be required to pay a fee to your employer if your pass is lost upon termination.
What is "pre-tax income"?
Pre-tax income is the employee's gross salary prior to calculating FICA and federal withholding taxes. Transit passes purchased by the employee with pre-tax income is deducted from their salary prior to payroll tax calculations. Pre-tax income applies only when the employee pays for all or a portion of a qualified transit benefit.
What are the tax implications allowing employees to use pre-tax dollars to buy transit passes?
For employers, their FICA taxes decrease. For the employees, their FICA taxes decrease and federal income taxes decrease.
What is a "tax-free fringe benefit"?
Employers are allowed to provide up to $230.00 per month as a tax-free transit fringe benefit to employees. A tax-free fringe benefit applies only when the employer pays all or a portion of a qualified transit benefit. Transit subsidies are business expenses for the employer, which are deductible for tax purposes. Any amount over the $230.00 per month per employee limit allowed by the IRS is considered taxable employee income.