125 Plans/Commuter Account: What are the potential savings by using a commuter account?

The chart below illustrates potential savings based on a variety of contribution levels:

Account Type Monthly Contribution Annual Savings*
Transit Only $255 $846
Parking Only $255 $846
Both Transit and Parking $510 $1,692

*For illustrative purposes only. Based on a 7.65% FICA, 15% federal tax, and 5% state tax. Your tax situation may be different. Consult a tax advisor.

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