EMPLOYER BENEFITS

Employers who enroll in the RTD-IRA program can enjoy a wide variety of benefits.

1. Save up to $100 per employee per year in payroll taxes.
Federal legislation allows companies that participate in an employer-sponsored transit benefit program — such as the RTD-IRA — to save up to 7.65% per pay period on their payroll taxes (FICA). That savings can add up to as much as $100 per employee per year.

To determine how much you can save on payroll taxes with the RTD-IRA, click here.

2. Improve employee morale, retention and recruitment by offering a popular and valuable employee benefit.
When you offer the RTD-IRA, your employees can save up to $1,500 a year with:

• Pre-tax savings: Employees can save up to 30% by having pre-tax dollars automatically deducted from their paycheck to pay for their RTD monthly transit pass, much like a cafeteria plan or 401(k) plan. When employees pay for their transit pass this way, the cost of the monthly pass (up to $105 per month) is exempt from federal income taxes and payroll taxes.
• Discounted transit passes: Employees receive an additional 10% discount on their monthly transit pass for the first 12 months in which you, the employer, participate in the RTD-IRA program.
• Reduced commuting expenses: Employees can save $660* a year or more on the cost of gasoline, auto maintenance and parking fees when they take the bus or light rail to work.
• Help your employees save for the future: When employees open a new Well's Fargo® Goal Savings account with $25 or more at any Denver or Boulder Wells Fargo Bank, they will match the initial $25 deposit.

3. Receive free administrative services for one year.
A transit benefits administrator (Commuter Check Services Corp.), contracted by RTD will provide the following services free for 12 months:

• Sell RTD monthly transit passes to employees online or by fax.
• Mail RTD monthly passes directly to participating employees’ homes.
• Send employer a file with a list of passes (by type and cost) purchased each month by employee name and/or number.
• Provide monthly program administration.
• Post and provide Direct Deposit and Automatic Payroll Deduction enrollment forms.
• Invoice employer for transit passes sold each month.

4. Get free promotional materials to encourage employee participation.
RTD will provide everything you need to promote the RTD-IRA program to your employees, including:

• Informational brochures explaining the RTD-IRA program and how it benefits employees.
• Posters for your office.
• Payroll stuffers encouraging employees to sign up for the RTD-IRA.
• RTD-IRA New Rider Kits for employees containing two Free Ride coupons, a “How to Ride RTD” brochure, an RTD System Map, and a “Calculate Your Commute” form that lets employees determine how much money they will save with the RTD-IRA.
• RTD will conduct an on-site RTD-IRA seminar with your employees to educate them about the program.

5. Free-up more parking spaces for customer use when more of your employees take transit to work.

6. Enhance your image as an environmentally friendly employer.
Offer a transit benefit program that helps reduce traffic congestion and air pollution.

*Based on AAA 2004 average cost per mile of 14.1¢ for gasoline, auto maintenance and tires. Current average may be higher due to increased gasoline prices.