New Jersey Governor Phil Murphy has signed legislation requiring employers with 20 or more employees “to offer Transit Benefits to all employees who are not currently covered by a collective bargaining agreement.”
JD Supra states that:
“Under the Law, employers must provide pre-tax election transportation fringe benefits that provide commuter highway vehicle and transit benefits, consistent with “the provision and limits” of Section 132(f)(1) of the Internal Revenue Code (“Code”), namely, (i) commuter highway vehicle benefits, (ii) any transit pass, and (iii) qualified parking.”
The new requirement became effective March 1, 2019 but is “inoperative” until March 1, 2020, meaning fines will not be levied until next year.
For more details on this new requirement, please click here.
The information included in this blog post originally appeared in an article from JD Supra on April 2, 2019, written by Jeremy Brown, Tzvia Feiertag, Rina Fujii and Steven Swirsky of Epstein Becker & Green.