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Associates, Counsel and Staff may pay commuting expenses (parking and transit) on a pre-tax basis. Eligible expenses include:

  • Transit Pass—any pass, token, farecard, or voucher used for mass transit (bus, train, subway, or ferry)
  • Vanpool—any vehicle that seats at least six adults (excluding the driver) if operated by a professional transportation person for pay
  • Parking – Qualified parking on or near where you work. It includes parking on or near the location from which you commute to work using mass transit, commuter highway vehicles, or carpools

PLAN LIMITS
There are limits on the amounts that can be set aside on a pre-tax basis to pay for these commuting expenses:

  • Transit Pass or Vanpool—$315 per month in 2024
  • Parking—$315 per month in 2024

You may take advantage of both benefits. If you drive to a bus or train, park your car there and ride the transit system to work, you may receive up to $315 per month for transit and $315 per month for parking, all pre-tax.

SAVE ON YOUR COMMUTING EXPENSES EACH MONTH
Locke Lord offers both Payroll Deduction and Commuter Substantiation options for your pre-tax transit and parking.

Payroll Deduction

  • Locke Lord offers WageWorks, an online commuter benefit purchase program, as a means of purchasing your local transit pass or monthly parking with the cost deducted directly from your paycheck pre-tax. This eliminates the hassle of having to purchase the pass or pay the garage yourself, it’s automatically ordered and distributed to you each month, saving you both time and money!  Should your parking garage not be one of WageWorks’ contracted payees, you may use the Pay-Me-Back method for reimbursement and still receive the pre-tax benefit.
  • Certain Locke Lord offices have arrangements with local parking lots/garages (Atlanta, Austin, Boston, Dallas, Houston and Providence) whereby you can have your monthly parking cost deducted directly from your paycheck pre-tax and paid on your behalf to the parking lot/garage. Space availability and lot hours vary upon location.
  • Payroll deductions are taken a month in advance to cover the following month’s purchase.

Commuter Substantiation – Houston office only

  • Should you wish to purchase your own transit pass or pay for parking directly, you may still have the pre-tax benefit for your out-of-pocket transit or parking costs. This method requires you to obtain and submit your receipt(s) each month to Houston Reception as evidence that you used the pre-tax dollars for the specific type of purchase.
  • Substantiation works as an out and in payroll transaction. Simply put, we take out the amount requested pre-tax prior to your federal and state taxes being calculated and then the amount is added back into your paycheck.
  • Substantiation deductions are taken in the month for the transit pass or parking fee is incurred.

ENROLLING OR CHANGING ELECTIONS
Eligible employees may enroll on their date of hire or anytime thereafter. To enroll in the Payroll Deduction option, please contact the appropriate individual in your office (See Commuter Contacts).

QUESTIONS?
Contact the HR Hotline at 401.455.7670 for more information.