401(k) Savings Plan
Save for your future with the BMO 401(k) Savings Plan. Empower administers the Plan.
Get a quick overview of the investment options, including allocation funds, indexed funds, actively managed funds, and specialty funds.
Watch a 15-minute video, All About Saving and Planning for Retirement, to ensure you’re on track for your financial future.
Take a look at how to update your beneficiary designation on Workday. Learn more.
Below is a high-level overview of the 401(k) Savings Plan. For details, review the 401(k) SPD.
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Account Access |
Inside BMO network:
Outside BMO network:
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Enrollment | You are eligible to enroll and begin making contributions immediately. You can review and change your contribution rate at any time. Your changes take effect with the next possible pay period. Auto-Save for new hires
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Your Contributions | Choose before-tax 401(k) contributions, after-tax Roth 401(k) contributions or any combination of both.
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BMO Contributions |
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Vesting |
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Investment Options |
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Loans and Withdrawals | While working at BMO, you may have limited access to your account through loans and certain types of withdrawals, subject to Plan provisions and IRS rules and limits. |
When You Leave BMO |
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Payment Options |
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Beneficiaries | Go to Workday to make changes to your beneficiary designation. To report a death, contact Empower at 1-844-SAV-401k (1-844-728-4015). Learn more. |
401(k) resources
Use these valuable resources to maximize the 401(k) Plan:
- The 401(k) Plan offers a broad range of investment options. Go to 401(k) Plan Investment Options.
- Go to 401(k) FAQs to learn more about before-tax contributions and after-tax Roth contributions.
- For tips on maximizing BMO’s matching contributions, automatically increasing your contribution rate and reviewing your investments, take a look at Your Guide to Understanding the BMO 401(k) Savings Plan.
- To learn how to assess your tolerance for investment risk and choose the investments that best fit your savings goals, review Your Guide to Investing in the BMO 401(k) Savings Plan.
- To ensure you’re on track for your financial future, watch a 15 minute interactive video, All About Saving and Planning for Retirement.