About Your Contributions
Contributions to the Transportation Spending Accounts can be made on a before-tax and after-tax basis.
- Transit Account. You can generally contribute up to $280 a month on a before-tax basis for eligible mass transit passes (for example, commuter bus, train, subway, ferry passes, tickets and vouchers) or vanpooling expenses.
- Parking Account. You can contribute up to $280 a month on a before-tax basis for eligible parking expenses if you drive directly to work or to a location from which you commute to work at JPMorgan Chase (for example, park and ride).
If your commuting/parking costs exceed the legal before-tax monthly limits under the Transportation Spending Accounts, those additional costs will automatically be deducted through payroll deductions on an after-tax basis. For example, let's say you have a monthly train ticket that costs $325. If you have this ticket purchased for you through the TSA plan, $280 will be deducted from your pay on a before-tax basis (legal limit) and the other $45 will be taken on an after-tax basis, so that there are enough funds in your account to buy the monthly pass for you.
The after-tax limits are currently $1,050 for Transit and $700 for Parking.