BMO invests in a comprehensive benefits program that supports your well-being, financial health and learning. You can choose the benefits that are important to you and your family.
You have 31 calendar days from your hire date (or newly benefit-eligible date) to make your benefit elections for health and insurance plans. Your elections take effect the first day of the month following 30 days of employment.
If you do not enroll during your 31 day window, your next opportunity to enroll will be during Annual Enrollment, unless you experience a qualifying life event.
|Benefits Requiring Enrollment|
|Coverage options||Enrollment actions|
|Health Care Coverage|
|Medical Plan||Medical Premiums||
|Dental Plan||Dental Premiums|
|Vision Plan||Vision Premiums|
|Health Savings Account (HSA)|
|Health Care Flexible Spending Account (HCFSA)||
|Dependent Care Flexible Spending Account (DCFSA)|
|Supplemental Life Insurance|
|Supplemental Life Insurance||Supplemental Life Insurance Premiums||
|Supplemental Long Term Disability|
|Supplemental Long Term Disability (LTD) Insurance||LTD Premium||
|Employee Share Purchase|
|Employee Share Purchase Plan (ESPP)||
Watch your BMO email for the next ESPP quarterly enrollment opportunity.
|Critical Illness Insurance||Voluntary Benefits Premiums||
|Hospital Indemnity Insurance|
BMO automatically provides the following benefits to eligible employees.
|Life & Accident|
|Basic Life Insurance||Company-provided coverage equal to your annual base pay, up to $50,000.
Don’t forget to designate your beneficiaries on Workday.
|Business Travel Accident Insurance (BTA)||Financial protection for you and your family while traveling on BMO-related business.|
|Retirement & Savings|
|401(k) Plan||You may enroll in the plan immediately. If you take no action, you are automatically enrolled with a 5% before-tax contribution through convenient payroll deduction. Your contributions will begin in one to two pay periods following 60 days of employment. If you do not want to make contributions to the Plan, you must decline enrollment within the first 60 days of employment. Your contributions cannot be refunded if you opt out at a later date.
You can make changes to your 401(k) account at any time.
|Employee Assistance Program (EAP)||A free and confidential resource to support the health and well-being of you and your family.|
|Sick Time||80 paid sick hours each calendar year. Your sick time may be prorated in your year of hire or if you are a part-time employee.|
|Short Term Disability (STD)||Replaces 70-100% of your base pay for 100 days (depending on service).|
|Vacation, Holidays, Maternity and Parental Leaves||Paid time off to take a break or spend time with your family, celebrate a holiday and care for and bond with a new baby.|
|Basic Long Term Disability (LTD)||Replaces 60% of your pre-disability base pay after 110 consecutive business days of non-work related disability.|