Qualified
Transportation Expense (QTE) Plan
featuring eTRACTM
technology
PLAN
HIGHLIGHTS
1. Name of Employer:
New York City Off-Track Betting Corp
2. Name of Plan:
3. Eligibility requirements: Must be a full-time or part-time
employee of New York City Off-Track Betting Corp. Per diem employees
are not eligible to participate.
4. Date participation in the Plan can begin: Once the eligibility
requirements have been met.
5. The Qualified Parking Account maximum election: N/A. The
monthly election for a Qualified Mass Transit Account with eTRACTM
should equal the total Qualified Mass Transit Expenses for the month (the
maximum tax-free contribution to this account is $100 per month).
6. For Qualified Parking Account reimbursements: N/A.
7. For Qualified Mass Transit Accounts with eTRACTM:
Qualified
Mass Transit services may be purchased at approved vendors via the eTRACTM Master Card. Use of the card must be in
accordance with the "eTRACTM Master Card Stored
Value Card Disclosure and Agreement" provided with the card.. A Qualified Mass Transit purchase is limited to the
available balance on the eTRACTM Master Card
at the time of purchase.
8. If employment terminates for a Qualified Parking Account
participant: N/ A.
If employment
terminates for a Qualified Mass Transit Account participant with
eTRACTM:
· As of the last date of the month during which employment terminates, any tax-free balance in the Qualified Mass Transit Account will become taxable wages.
· Qualified Mass Transit Account balances will be available via the eTRACTM Master Card through the last business day of the month following the month during which employment terminates. Any funds remaining in the account after this grace period will be forfeited.
9. To close an Account, a QTE Enrollment/Change must be submitted. Any
funds remaining in an Account after it is closed will be forfeited.
· For Qualified Parking Account participants: N/ A.
· For Qualified Mass Transit Account participants, the eTRACTM Master Card@ cannot be used after the closing date.
10. Plan election(s) will remain in effect until a QTE Enrollment Change
is submitted during open enrollment or when a permissible change has occurred.
Changes in elections are permitted for the following reasons: change in work
schedule, change in residence or work site, or change in monthly Qualified
Transportation Expenses. Open enrollment will be permitted on a monthly basis.
11. The Plan Year begins on February 1st.and ends on January 31.
12. Name, address and telephone number of the Plan
Administrator:
New
York City Off-Track Betting Corp.
1501
Broadway
New
York, NY 10036
(212)
704-5112
13. Effective date of Plan: February 2003.
14. Plan number: 550.
15. Employer ID number: 13-2664509.
Please
review the Plan Summary for details of IRS regulations. J J
/02
