The move came even as current MTA Chairman Joseph Lhota prepares to step down from his post by week's end, in preparation for a possible bid to serve as mayor of New York.
In line with earlier expectations, fares on LIRR and Metro-North will rise an average of 9%. Base subway and bus rares will rise by 25 cents to $2.50. Monthly MetroCard passes will cost $112, up 8%.
MTA earlier had said it next expects to seek a fare hike in 2015. The increase is the fourth fare hike in five years.