Compass
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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AimPoint Pension
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Malfunctioning Transit Passes: Timing Is Everything
Seyfarth [Guidance Overview] Jan. 8, 2020 "[Chief Counsel Memorandum 201949019] clarifies that once an employer has distributed a functioning transit pass or card to employees, the benefit is considered provided ... If a card later malfunctions, even if the malfunction is not caused by the employer or employee ... the card is still treated as readily available to employees.... As a result, any cash reimbursement issued by the employer as a result of such malfunction is a taxable benefit." |
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