401(k) · DOL Form 5500 · 2023

Bmo Financial Corp. 401(k) Plan

Data updated 2026-08-11

$4.5B
Total assets: 13,364
Participants: 100th
Percentile by assets: $339,575
Avg per participant

Official DOL plan name: Bmo 401(k) Savings Plan · Sponsored by Bmo Financial Corp. · Illinois · Finance & Insurance

$4.5B in assets, 13,364 participants

Bmo Financial Corp.'s Bmo 401(k) Savings Plan reported $4.5B in total assets and 13,364 participants in its 2023 DOL Form 5500 filing, ranking in the 100th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

100th percentile by assets (of 127,072 plans)
#8,817 in Finance & Insurance (8,869 peers)

Coverage in Illinois

Bmo 401(k) Savings Plan covers 13,364 participants in Illinois, 17x the typical Illinois plan (state average ~779 per filing). Assets: $4.5B.

$4.5B
total plan assets (2023 EOY): 13,364
covered participants: 100th
percentile by assets (of 127,072 plans): $339,575
avg assets per participant

Bmo 401(k) Savings Plan reported net income rose from -$446M in the plan year 2022 filing to $460M in the plan year 2023 filing.
Bmo 401(k) Savings Plan end-of-year assets rose from $2.6B in the plan year 2022 filing to $4.5B in the plan year 2023 filing.
Bmo 401(k) Savings Plan reported participants fell from 14,312 in the plan year 2022 filing to 13,364 in the plan year 2023 filing.

See the national 2022→2023 release diff →

State

Illinois

Industry

Finance & Insurance

Participants vs Illinois filers

In Illinois, the average filing covers about 779 participants across 5,745 plans. Bmo 401(k) Savings Plan reports 13,364 participants - 17x that state average ($4.5B EOY assets).

Illinois filing particulars

Total Assets (Beginning of Year)	$2.6B
Net Assets (End of Year)	$4.5B
Net Income	$460M
Employer EIN	510275712
Plan Effective Date	1916-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Bmo Financial Corp.)

Total plan assets by year, all Bmo Financial Corp. plans on file

Year	Plans	Participants	Total Assets
2022	2	20,609	$3.6B
2023	2	19,091	$5.9B
2024	2	26,749	$6.3B

Nearby 401(k) Plans in Illinois

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Bmo 401(k) Savings Plan vs. nearby 401(k) plans in Illinois, assets vs. participants

Accenture United States 401(k) Match Savings Plan $17.6B · 69,974
State Farm 401(k) Savings Plan $16.9B · 60,246
Abbott Laboratories Stock Retirement Plan $14.5B · 38,012
United Airlines Pilot Retirement Account Plan $14.4B · 14,959
Walgreens Retirement Savings Plan $13.4B · 235,331

Compare Bmo 401(k) Savings Plan side-by-side with 3 peers →

Scale composition for Bmo 401(k) Savings Plan

Bmo 401(k) Savings Plan reports $4.5B in end-of-year assets across 13,364 participants (0.037% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.014% of 93,925,755 covered participants) - about $339,575 per participant (2.5x the national average assets-per-participant) . Net income for plan year 2023 was $460M.

This plan identity (EIN 510275712, plan #001) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $2.6B to $5.0B (+92.8%) while covered participants moved from 14,312 to 20,280 . Single-year sparse filers cannot show that trail.

Plan year	Participants	EOY assets	Filing
2022	14,312	$2.6B	Open filing
2023	13,364	$4.5B	This page
2024 · index core	20,280	$5.0B	Open filing

The same sponsor also keeps 2 other index-core plans on PlainRetire:

Bmo 401(k) Savings Plan (401(k), $5.0B, 20,280 participants)
Bmo U.S. Pension Plan (Defined Benefit (Pension), $1.3B, 6,469 participants)

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Bmo 401(k) Savings Plan by total assets, not by location.

Kimberly-Clark Corporation 401(k) & Profit Sharing Plan (WI) $4.6B · 11,236
Chs/Community Health Systems, Inc. Retirement Savings Plan (TN) $4.5B · 62,487
New York Life Insurance Company Employee Progress Sharing Investment Plan (NY) $4.6B · 12,759
Fidelity National Information Services, Inc. 401(k) Profit Sharing Plan (FL) $4.6B · 22,816

Frequently Asked Questions

How did Bmo 401(k) Savings Plan assets move in 2023? ▼

Bmo 401(k) Savings Plan surged - up 76.0% during 2023, from $2.6B to $4.5B. Reported net income was $460M.

How have Bmo Financial Corp. plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Bmo Financial Corp.'s sponsor-wide assets grew 75.0%, from $3.6B to $6.3B.

Where does Bmo 401(k) Savings Plan rank by assets among Form 5500 filers? ▼

Bmo 401(k) Savings Plan ranks in the 100th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).

Which 401(k) plans are similar in size to Bmo 401(k) Savings Plan? ▼

Among 401(k) plans in other states, the closest by assets is Kimberly-Clark Corporation 401(k) & Profit Sharing Plan in WI ($4.6B, 11,236 participants).

Next read for Bmo 401(k) Savings Plan

Filing takeaways

Ways to act on Bmo 401(k) Savings Plan's numbers.

By total assets, Bmo 401(k) Savings Plan ranks among the largest 1% of all filed plans. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in Illinois. Compare plans
Bmo Financial Corp.'s sponsor-wide assets have grown 75.0% since 2022 across 3 plan years on file. More Finance & Insurance plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 510275712.