BMO Harris Bank overhauled the investment option lineup of its 401(k) plan, restructuring into four tiers, according to a posting on the Toronto-based company's website.
The asset allocation tier consists of BlackRock LifePath funds and BMO MAAP funds, both new options.
New funds within the index fund tier are the Mellon TIPS index fund, Mellon BarCap Agg index fund, Mellon Mid Cap index fund and Mellon ACWI ex.-U.S. index fund.
New funds within the actively managed tier are the Virtus Insight Government Money Market fund, PIMCO All Asset fund, Waddell & Reed Core Equity fund, Rainier Mid Cap Equity fund, DFA U.S. Small Cap Portfolio fund and MFS Institutional International equity fund.
The fourth tier is made up of specialty funds; there were no fund changes in that tier.
The changes give the plan a total of 32 investment options and are effective July 23. Information on what options were dropped or retained wasn't available by press time.
The 401(k) plan had $792 million in assets as of Dec. 31, according to the firm's most recent 11-K filing.
Phone calls to Paul Renard, senior vice president, human resources, and Jim Kappel, vice president and head of media relations, were not returned by press time.
