ThinkHR 2022 Annual Max Increase Plan Amendment

ThinkHR 2022 Annual Max Increase Plan Amendment

ThinkHR Plan amendment for the 2022 annual maximum increase.
  • TRANSPORTATION BENEFIT PLAN

    PLAN AMENDMENT

    The Employer adopts this Amendment to the Transportation Benefit Plan (“Plan”) to reflect changes to Internal Revenue Code (IRC) Section 132(f), as amended by the Internal Revenue Service (IRS) Revenue Procedure 2021-45. The employer and Plan sponsor intends this Amendment as good faith compliance with the requirements of this Notice. This Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment. This Amendment is entered into and shall be effective for the 2022 Plan year and beyond.

    The plan document is amended as follows:

  • III. ARTICLE – BENEFITS AND ELECTIONS

    1. Transportation Benefit Plan Account
    1. Monthly Limitation for Qualified Parking Expenses: Notwithstanding any provision contained in this Transportation Benefit Plan to the contrary, the maximum amount that may be allocated for Qualified Parking Expenses for any month within the Plan Year is $280.00;
      1. Monthly Limitation for Transit Pass Expenses and Commuter Highway

      Vehicle Expenses: Notwithstanding any provision contained in this Transportation Benefit Plan to the contrary, the maximum amount that may be allocated for Transit Pass Expenses and Commuter Highway Vehicle Expenses for any month within the Plan Year is $280.00.

  • This Amendment has been excecuted on this day

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