If i terminate an employee, what happens to their commuter benefits account balance?
Generally, it depends on your companys policy, and state regulations. Below is a general guideline for what happens to the account and when: On the Day That an Employee is Terminated The employee’s commuter benefits card will be deactivated. The employee’s commuter benefits plan will end. All unused funds will be returned to the employer. […]
Generally, it depends on your companys policy, and state regulations.
Below is a general guideline for what happens to the account and when:
On the Day That an Employee is Terminated
- The employee’s commuter benefits card will be deactivated.
- The employee’s commuter benefits plan will end.
- All unused funds will be returned to the employer. However, a terminated employee can still file reimbursement claims.
Filing Reimbursement Claims
Once an employee has been terminated, they have up to 90 days from their termination date to submit any expense claims.
- Only expenses that occurred before the employee’s termination date can be claimed.
- Expenses can’t be older than 180 days from the date of the claim submission.
- Due to compliance regulation, unused commuter benefit funds can’t be refunded.
Final Tips
You can’t directly reimburse a terminated employee for their commuter benefits account balance, but they can file for reimbursement toward commuter expenses that occurred before their termination.
