Benefit Options
BMO invests in a comprehensive benefits program that supports your well-being, financial health, and learning. You can choose the benefits that matter most to you and your family.
You have 31 calendar days from your hire date to elect your health and insurance plans. Elections take effect the first day of the month following 30 days of employment.
If you don’t enroll during your 31-day window, your next opportunity to enroll will be during Annual Enrollment, unless you experience a qualifying life event. Learn more.
| Benefits Requiring Enrollment | |||
|---|---|---|---|
| Health Care Coverage | |||
| Medical, Dental, Vision |
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| Health Savings Account (HSA) | |||
| Spending Accounts | |||
| Health Care Flexible Spending Account (HCFSA) |
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| Dependent Care Flexible Spending Account (DCFSA | |||
| Commuter Benefits | |||
| Supplemental Life Insurance | |||
| Supplemental Life and Family Insurance |
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| Supplemental Long Term Disability | |||
| Supplemental Long Term Disability (LTD) Insurance |
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| Employee Share Purchase | |||
| Employee Share Purchase Plan (ESPP) |
Watch your BMO email for the next ESPP quarterly enrollment opportunity. |
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| Voluntary Benefits | |||
| Accident, Critical Illness, Hospital Indemnity Insurance |
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| Legal Plan | |||
BMO automatically provides the following benefits to eligible employees.
| Automatic Benefits | |
|---|---|
| Life & Accident | |
| Basic Life Insurance |
Company-provided coverage equal to two times your total compensation, up to $500,000. 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 and begin making contributions to the Plan immediately. If you don’t take action, you are automatically enrolled with a 5% before-tax contribution through convenient payroll deductions. Your contributions will begin in one to two pay periods following 30 days of employment. If you do not want to contribute to the Plan, you must decline enrollment within the first 30 days of employment. Your contributions cannot be refunded if you opt-out at a later date. There are two types of BMO contributions:
You can make changes to your 401(k) account at any time. |
| Work/Life | |
| Employee Assistance Program (EAP) | A free and confidential resource to support the health and well-being of you and your family. |
| Time Off | |
| 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% to 100% of your base salary, or Benefits Base Rate (BBR) for certain commissioned employees, for 100 business days depending on your years of 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 total compensation after 110 consecutive business days of non-work related disability. |