BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

TIP: As you are reading through this Benefacts update, keep an active myHR window open so that links open faster.

How well do you know your plans?Tools and resources are available to help you learn moreIn this issue...

• Qualifying life events

• Your commuter benefits

• Benefits while on an unpaid leave

• Preventive benefits

• Take time to unwind

• Medicare eligibility

• Thinking about retiring?

• 401(k) contributions

• myRetirement Insight

• Discover a healthier you

• Maintaining a healthy lifestyle

Summary Plan DescriptionsDetails on the operation and management of your plans. These are among the most important documents to read. Access Summary Plan Descriptions on myaccessbenefits.

HR IntranetDetailed information about your benefits and retirement programs and tools such as eGuides, videos, and FAQs. Access the HR Intranet through myHR or myaccessbenefits.

myRetirement InsightA customizable, retirement planning tool pre-populated with your BMO retirement program benefits. A simple way to assess and plan for your retirement, including a personalize retirement readiness score and suggestions on optimizing your retirement savings.

myTotal RewardsA personal snapshot of a portfolio of programs focusing on pay, health, retirement, career, and work/life priorities. Access the tool under My Pay & Benefits in myHR.

BMO offers a range of competitive benefit and retirement plans that help you invest in your health, wellness and financial security — now and in the future. Here are some of the benefits and retirement plans available to you:

• Health and insurance: medical • Health Savings Account • dental • vision • spending accounts • life and accident insurance

• Retirement and savings: 401(k) plan (with matching and core contributions) • Employee Share Purchase Plan

• Time away from work: paid holidays • vacation • sick time • disability • maternity and parental leave

• Work/life: LifeWorks employee assistance • backup child care

• Other: commuter benefits • Best of BMO • Milestones • adoption assistance • William A. Downe Scholarship

Here are some resources and tools to help you stay informed:

Our plans are an investment in you — shared by you and BMO. Whether you just need a refresher about what BMO offers or you want to learn more about the details of the plans you’ve chosen, check out the many tools and resources available to help you make the best decisions for you and your family.

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

Qualifying life events31 days to change your coverage If you experience a qualifying life event during the year, you have 31 days from the date of the event to change your coverage in myBenefits. Qualified life events include a marriage, birth, adoption, divorce, or loss or gain of coverage.

Life event checklists on the myHR home page will guide you through the process and highlight important things to think about depending on the type of event.

If you miss the 31-day window, your request to add, cancel or change coverage will be denied. Your next opportunity to change your coverage or update your dependants is the following annual enrollment or another qualifying life event, whichever comes first.

Having a baby?Your Guide to Maternity Leave and Your Guide to Parental Leave provide you with important information you need to know before, during and after your leave, such as adding your child to your coverage. Remember that if you do not add your child as a dependent within the 31-day window for a life event, your child will not be covered under your plan. Check out the guides on myaccessbenefits and under Guides on the HR Intranet.

Your commuter benefitsKeep the change deadlines in mindBMO’s commuter benefit allows you to set aside money to pay for eligible expenses associated with commuting to and from work. These include public transportation and vanpools, along with parking at or near your place of employment (including park-and-ride locations).

Remember that you have until the 10th of each month to change your commuter benefits for the following month (4th of the month for New York Long Island and Metro North Railroad users).

Taking advantage of the commuter benefit means you don’t have to stand in line to buy tickets or wait for reimbursements. You can purchase commuting products online and have them sent directly to your home. You can also set up a recurring order and change or cancel your order in the future, if necessary.

One of the best benefits for you is that commuter deductions are taken from your pay before tax which means more money in your pocket. In 2018, the IRS will allow you to contribute up to $260 per month before tax toward qualifying transit and parking expenses. You can even combine your expenses — such as paying for parking at a subway station — to get the most advantage from the program.

For more information about enrolling, visit the Commuter Program.

Tips!When adding a dependent, first enter your new dependent information, then enroll your dependent in your coverage.

Review and confirm your elections on your confirmation statement to ensure your dependent was added to the coverage you intended.

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

More about benefits

BMO’s benefit coverage will continue without interruption when you are on a leave of absence and premiums will continue to be deducted from your pay throughout the paid portion of your leave.

If you are on an unpaid leave and miss benefit deductions, the missed amounts will be deducted from your pay when you return to work, allowing you to continue receiving the pre-tax advantage. The normal premium will be deducted from your pay, plus one additional deduction for each benefit plan, until you are caught up.

However, if you are on an extended, unpaid leave, BMO will invoice you directly for any missed benefit premiums. It is important to respond to invoices and follow up with any questions as non-payment may result in your benefits coverage being cancelled. Even if you have returned to work, you must pay all invoiced amounts.

If you are enrolled in commuter benefits, your deductions will continue and must be paid during your leave unless you proactively cancel them in Your Spending Account. When you return from leave, you can re-enroll in commuter benefits.

App-solutely worth havingDownload your plan administrator’s mobile app to have coverage information, provider look-up tools, claims history, ID numbers, balances and much more on the go! Click on the icons for download information.

Preventive benefits Preventive care is important for preventing illness and detecting risk factors. BMO’s Consumer Choice Plan covers preventive care at in-network providers at 100%. This includes annual exams, routine screenings and tests, child well care, immunizations, and certain categories of prescriptions.

The Delta Dental plan also covers preventive care at 100%, including two routine exams and cleanings per calendar year, bitewing X-rays once per calendar year, full mouth X-rays once every three years, fluoride treatments twice per calendar year for dependents under 19, space maintainers and sealants.

You can use your sick time to ensure you have flexibility to schedule appointments when you need them to take care of yourself and your family.

Did you know?Americans use preventive care services at only 50% of the recommended rate according to the Centers for Disease Control.

Benefits while on an unpaid leaveWhat you need to know

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

Becoming eligible for MedicareAs you approach age 65, you may begin receiving information about your eligibility for benefits under the Social Security and Medicare programs. The effect of Medicare enrollment on BMO plan benefits depends on whether you are actively working, on long-term disability, or experiencing end-stage renal disease.

Status Effect of Medicare

Actively working

If you are covered under BMO’s Consumer Choice Plan at the time you become eligible for Medicare, you can defer your Medicare enrollment until you retire. Medicare offers special enrollment periods that will allow you to enroll later without any penalties when you lose your group coverage.

Long-term disability

Apply for Social Security disability benefits and enroll in Medicare A and B (to maintain coverage under BMO’s medical plan). Once your Social Security benefits begin, you are eligible for Medicare after 24 months.

End-Stage Renal Disease

BMO’s plan covers you for 30 months from the date you first start dialysis. After 30 months, Medicare becomes the primary plan with BMO’s medical plan as second payer.

Applying for a Medicare special enrollment period

If you deferred enrollment in Medicare for yourself or a covered dependent during your initial enrollment period, you can apply for a special enrollment period. To apply, you will likely have to complete Social Security Administration employment verification form CMS-L564.

BMO will need to complete a section of the form verifying the dates of your medical coverage. Fax the form to our Benefits Administrator (Alight Solutions) at 1-866-894-6684 for processing and allow 5-7 business days from receipt for your form to be processed and returned to you.

HSAs and MedicareThe IRS only allows Health Savings Account contributions if you or your dependents are not enrolled in Medicare. This includes Part A (automatic when you start receiving Social Security benefits) and Part B. If you or any of your dependents will become newly eligible for, or are already enrolled in, Medicare, speak to a tax advisor when considering contributing to an HSA.

Take time to unwindHave you had your five business days away?

It’s good for your health, and the health of the business, to rest, refresh and recharge. We are all required to take at least five consecutive business days off from work every year. Your five days away can include vacation time, sick days, other approved days off, or regularly scheduled days that fall on an operating business day. It does not include a legal holiday where the unit is closed.

Even though we are half way through the year, there is still plenty of time to take your five days if you haven’t already. Speak to your manager to schedule your time off so that you can take all your vacation, including your required five consecutive business days, by the end of the calendar year. Remember to track all time away from work in myTime & Attendance.

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

Thinking about retiring?Careful planning is an important part of any journey, especially the road to retirement. When you’re ready to approach that milestone in your life, here are some things you should do:

1. Review the Retirement Checklist under Life Events on your myHR home page.

2. Notify your manager and the HRC within 90 days of your intended retirement date.

3. Apply for Social Security retirement benefits at least four months before you plan to retire.

4. Read Your Benefits at Retirement to determine what happens to your retirement savings plans and benefits when you retire.

5. Review Best of BMO – US to see how the program can help, from finding a financial advisor to discussing options for your Retirement (Pension) Plan, 401(k) Savings and ESPP.

6. Learn about Medicare and, if eligible, decide if you want to enroll in the Retiree Medical Program. You may also be eligible for medical, dental and vision coverage through COBRA.*

* If you are eligible for the Retiree Medical Program and you choose COBRA for your medical coverage instead of retiree medical coverage, you give up the right to enroll in the company’s retiree medical coverage in the future. You may still choose COBRA continuation for your dental and vision coverage.

More about retirement

Roth vs traditional 401(k) contributionsThe recently-passed Tax Cut and Jobs Act of 2017 may have changed your tax situation which makes this a good time to re-visit the type of 401(k) contributions you make: traditional 401(k) which are pre-tax, Roth 401(k) which are after-tax, or some combination of both.

You should consider Roth 401(k) contributions to let your money accumulate tax-free if:

• You are just beginning your career and feel confident that your pay will increase over time. Making Roth contributions now can protect you from paying more in taxes if your income tax bracket is higher in the future.

• You want to diversify with a source of tax-free income in retirement, which may be attractive to you regardless of your current age and years to retirement.

When it comes to a traditional vs a Roth 401(k), you don’t necessarily have to make an all-or-nothing choice. You may want to consider both, and decide year-by-year how you want to make your contributions. Whatever you decide, you’re already planning and saving for retirement - and that’s the best decision of all.

For more information about Roth 401(k) contributions, check out the 401(k) Savings Plan eGuide.

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

myRetirement Insight A planning tool to help you get ready for retirementAutomatically populated with your BMO retirement program benefits and customized with a few additional inputs from you, myRetirement Insight will provide you with a retirement readiness score and offer suggestions on how you can optimize your retirement savings.

With the tool, you can:

• project your future retirement savings, • estimate your expenses at retirement, and• see how long your savings are expected to last.

myRetirement Insight is accessible through your 401(k) Savings account via myHR, or through any internet-enabled device via ACCESSBenefits. The tool requires Microsoft Internet Explorer 11+ or Google Chrome.

Check out the myRetirement Insight handy guide for tips on accessing and using the new myRetirement Insight planning tool, and the Contact Us guide for help in choosing the right retirement resource.

Other tools to help you plan for retirement

Saving and planning for retirement

Watch the All about saving and planning for retirement 15-minute video to see if you’re on track for the future.

401(k) Savings Plan eGuide

The guide provides tips on maximizing BMO’s matching contributions, automatically increasing your contribution rate, and reviewing your investments.

Your Benefits at Retirement guideYour Benefits at Retirement was created to help you understand what will happen to your benefits when you retire. You can also find the guide on the HR Intranet under Guides.

Investing in the 401(k) Savings PlanThe guide helps you assess your investment risk tolerance and choose the investment options that best fit your needs and savings goals.

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

Discover a healthier you with ActiveHealthChange doesn’t happen overnight but ActiveHealth can help you start down the path to a healthier lifestyle today. Register* at MyActiveHealth to access free services and much more from your computer, tablet or smartphone.

MyActiveHealth can help you develop wellness goals, prioritize actions to improve your health, and track incentives. On MyActiveHealth, you can find health tools and trackers and educational videos.

You can also access services such as:

Digital Coaching

Online coaching at your own pace to inspire, motivate and introduce healthy lifestyle actions to your daily routine. Through insightful articles, games, videos and other resources covering 150 topics, you will start to build healthy habits one step at a time.

Condition Management

One-on-one support from a nurse to help you manage chronic health conditions such as Diabetes, COPD, Asthma, Heart Failure or Coronary Artery Disease, Hypertension, Hyperlipidemia, Chronic Neck, Back, Kidney, and Gastroesophageal Reflux Diseases. The program doesn’t replace your doctor; it’s just a little extra help from a personal health coach who’s available on your schedule.

A team of ActiveHealth registered nurses is also available by phone, Monday through Saturday, to support you when you need it. Call 1-877-489-9403 to set up an appointment.

* Your MyActiveHealth registration information must match your eligibility information exactly. For example, if the system has your first name showing as John A, you need to enter John A as the first name when registering. Call 1-877-489-9403, option 2 if you need help registering.

BMO Financial Group reserves the right to suspend, amend or terminate any or all benefits and to change prices and premiums at any time. Employees will be notified of any plan or cost changes in advance. Note that information in this document is general in nature. The plan contracts will govern if there is a discrepancy. BMO Financial Group complies with applicable Federal civil rights laws and does not discriminate on the basis of race, color, national origin, age, disability, or sex. To view this disclaimer in other languages, please click here. To view all legal notices, please click here.

BenefactsYour spring 2018 benefits update.For benefits-eligible employees in the U.S.

ToolkitsVideos Schools• Kindergarten to

Grade 12 private and public school locator

• What is Mindfulness?• What is Resilience?• Be the CEO of Your

Own Health

• Change & Resilience• Health and well-being• Mindfulness

Maintaining a healthy lifestyle — all year longTaking care of your body and mind shouldn’t be just something you decide to do at the start of the year – it’s a full-time “job” that you have to work on every day.

It often takes a lot of motivation, commitment and courage to do everything it takes to maintain a healthy lifestyle – things like eating right, exercising, getting enough sleep, or quitting smoking.

Setting realistic S.M.A.R.T. goals and using the valuable services provided by LifeWorks can help you stay focused, remain positive and do what’s right for you.

Advice you can count onOur confidential employee assistance program, LifeWorks, can help you and your family members – in life’s big moments and in all of its challenges. Here are just some of the great resources that LifeWorks provides:

S.M.A.R.T. goals for positive changeMany goals like eating better or losing weight are open-ended and too broad. Rather than focusing on the end result, set Specific, Measurable, Achievable, Relevant and Timely goals that have staying power.

Clearly define what you want to accomplish. Instead of a vague objective such as “eat healthier,” come up with specific actions such as “eat salads at lunch time every work day.”

Identify targets and milestones to track your progress. Track your progress in a journal or calendar. Check out apps to help you set goals and track progress.

If you want to start exercising, it’s best to start with something you know you can do, like a 15-minute walk on Mondays, Wednesdays and Fridays, and build on your progress.

Select a goal that fits with your life. Go with something you love and really enjoy, like walking or dancing, or if you have a family, pick an activity that you can do together.

Rather than an indefinite time, set an end-point (e.g. one month), then assess your progress against your goal, make adjustments and set another short-term goal.

12

3

Specific

Measurable

Achievable

Relevant

Timed

Discounts• Discounts available on

a selection of services such as TurboTax and meditation resources