Lam’s commuter benefits can help you save on eligible commuting costs, including public transportation and parking expenses. The amount you designate is withdrawn from your paycheck before taxes are deducted, which reduces your taxable income. Plus, Lam covers 50% of your monthly commuting costs up to $120.
What you need to know
- Qualified public transit includes train, light rail, bus, ferry, or vanpool. Eligible parking includes parking you pay for at work or where you access public transit.
- Lam will automatically pay up to 50% of your combined public transit and parking order, up to $120 per month.
- You may contribute up to $300 pretax for transit and up to $300 pretax for parking.
- You may contribute more after tax if necessary to make a larger transit or parking purchase.
- Orders must be placed by 8:59 p.m. PT on the 10th of the month for the next month’s benefit, so be sure to plan ahead.
- You may place a recurring monthly order with Optum Financial.
- As applicable, you may use a transit smart card (e.g., Clipper) or a rechargeable Optum Financial debit card to pay for eligible commuting costs.
What you need to do
- Sign in to the Optum Financial site.
- Select the transit or parking services you want.
- Place your order.
- Set up an automatic order to make the same purchase every month.
- Receive your order at home by mail.