Due to a change in federal law, expenses for parking, vanpools, and bus passes for UWM employees will be changing from post-tax to pre-tax deduction. This will mean increased savings for employees who pay for transportation-related services and products through payroll deduction.
The change will automatically effect employees who have purchased or will purchase a parking permit or consumer value pass (CVP) for 2020. Specifically:
- If you are paid monthly, you will see the pre-tax deduction on your January 31st paycheck (for the pay period of January 1 – January 31).
- If you are paid biweekly, you will see the pre-tax deduction on your January 30th paycheck (for the pay period of January 5 – January 18).
In addition, UW System is working with the Department of Employee Trust Funds (ETF) on approval and potential re-implementation of the Parking & Transit Accounts through ConnectYourCare. Human Resources will share with employees when the Parking & Transit Accounts will be available. Eligible purchases include for your CYC account would include but are not limited to metered parking, park and ride fees, and bus passes.