Educational Materials for BMO Smart Portfolio Retirement Accounts

This guide provides educational materials regarding BMO Smart Portfolio retirement accounts, specifically focusing on distribution options for 401(k) plans and IRA transfers. It outlines four primary choices available to individuals entitled to a distribution: leaving the money in the current plan, transferring the account balance to a new employer's plan, rolling over the account into an IRA, or taking a taxable distribution. Each option is detailed with its advantages and disadvantages, emphasizing the importance of understanding the long-term financial consequences of these decisions. The document also includes a checklist that discusses various considerations relevant to typical participants of a 401(k) plan, helping them evaluate their alternatives based on personal circumstances. The information is intended for educational purposes and does not constitute legal or tax advice, urging individuals to consult with their advisors for tailored guidance.