The IRS sets maximum contribution limits for flexible spending transit and parking accounts and just announced an increase to $245 monthly for transit and $245 monthly for parking. The bicycle commuting limit remains the same at $20 monthly.
For more information on Transit & Parking Benefits, click here.
If you want to make changes to your employees’ transit and parking accounts, please contact your Sterling FSA account team or Sterling customer service. You can email email@example.com or call 800-617-4729. We’re available Monday – Friday from 8 am to 6 pm Pacific time.