Justworks has partnered with Citi Bike for discounted bike memberships to keep your team happy and healthy. This partnership will be fully integrated through Justworks and available online. Once you provide access to Citi Bike to your team, your employees will receive an email with instructions on how to sign up. Justworks will bill the company directly for every employee that signs up.
About Citi Bike
Citi Bike is a growing transportation system consisting of thousands of bikes at hundreds of stations across New York and Jersey City. Each Citi Bike station has a touchscreen kiosk, a map of the service area and the surrounding neighborhood, and a docking system that releases bikes for rental with a card or key.
Why offer Citi Bike?
Citi Bike is an affordable, eco-friendly way for your employees to experience the city. Research shows that employees who exercise regularly are happier and more productive. An annual Citi Bike membership offers unlimited rides on 12,000 bikes between 750 stations in New York City and Jersey City.
How can I look up Citi Bike locations' availability?
You can use the Justworks Perks Zip by MSA query to determine which perks are available in the zip code of interest.
- Enter the member's zip code in the box and click "Execute" to run this query. The query will populate the perks that are available in that specific location.
How much will my company be charged when offering Citi Bike membership?
Employers will pay the annual membership cost for each employee that signs up for a Citi Bike membership through Justworks. There are no other fees associated.
Employers will be required to choose to cover 50% or 100% of the annual membership cost for each employee that signs up for a Citi Bike membership through Justworks. Billing occurs on the second payroll for the employer, the subsequent payroll after the membership plan is created for the employee (for the taxes they owe on the benefit).
If employers contribute 50% towards the cost, the total annual membership fee is $152.42 (including tax) and will cost $76.21 per employee. If employers choose to contribute 100% towards the cost, they will receive a discounted total membership fee of $146.98 (including tax).
When will my company be charged?
Employers will be billed on an annual basis as opposed to monthly. Once your employees start signing up, they will be charged the membership fees by the following frequency:
- Semi-monthly billing: non-applicable
- Weekly billing: On the second payroll invoice of each month.
- Bi-weekly billing: On the second payroll invoice of each month.
Please also keep in mind that even though your company may be offering a Citi Bike membership through Justworks, it is still considered a fringe benefit. This means that the value of the membership is considered taxable income.
Are there any taxes and/or fees with the membership?
Citi Bike memberships are subject to sales tax which will be charged to the employer. The portion of your employees’ membership that is subsidized by your company will be considered taxable wages (subject to payroll taxes and withholdings) and reported on their W-2s.
How can I change the amount my company subsidizes?
Once the perk is active, you will be able to change your contribution amount on your benefits page. Just click on the “Summary details” in the Citi Bike section to start the process.
Who in my company would be eligible to enroll?
- Full-Time Employees
- Part-Time Employees (if the employer chooses)
- Paid Owners
- Unpaid Owners (NOTE: they will need to report the membership fee when filing taxes because, as a fringe benefit, the fee is considered taxable income.)
Set up Citi Bike benefit for employees through Justworks
To set up the benefit for the company, the admin must select the Citibike option in-app under [HR → Benefits] left-hand side tab.
Follow the process steps to learn further details of the membership pricing plan
Select who to offer the benefit to FTEs only or FTEs + PTEs
When can my employees use Citi Bike?
After your enrollment request is processed, your employees will receive an email alerting them of this new perk. All they have to do is sign up and they can start using their membership right away!
Can I cancel or transfer my membership?
The member can be fully reimbursed for their membership within 14 days of their purchase. If a member purchased on January 1, they can be fully refunded until January 14 and the membership is transferrable.
If the member joins Justworks Citi Bike AFTER their 14-day reimbursement period, the member will need to wait until their membership expires to get onto their new plan and the membership is NOT transferable.
When would the Citi Bike benefit terminate occur when the employee is terminated?
The benefit will terminate at the end of the annual membership (not the calendar year).
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.