Pay for transportation expenses with before-tax dollars, which can save you money on monthly parking or transit costs related to your work commute:
It’s easy and flexible.
You decide how much to contribute, and the money is deducted from your paycheck automatically.
Before-tax deductions
are allowed up to the IRS limit. For 2024, the limit is $315 per month for transit and/or $315 per month for parking.
Funds are only available once actually deposited
into your account.
Use your commuter benefits debit card
to pay providers at the time of service directly from your transit and/or parking account. If the parking facility doesn’t accept debit card payments, you may also pay out of pocket and then submit a reimbursement request.
WEX does not require parking and transit receipts
to reimburse claims; however, it is recommended that you keep receipts for your own records.
Funds in your commuter account must be used
by the end of the calendar year; they do not carry over to the following year.
Parexel offers employees the opportunity to establish a 529 College Savings Plan through Fidelity Investments. A 529 plan college savings is a tax-advantaged savings plan that can be used for qualified education expenses for schools nationwide. Contributions can be made via payroll deductions. You must establish an account through Fidelity and update your direct deposit information in MyADP. Visit Fidelity to learn more about 529 plans.