Steps To Take When Growing Your Family
Whether you’re adding a child through birth or adoption, there are lots of things to think about—including adding your child to your K-C benefits. A new addition is a qualifying change in status, so you’ll have the opportunity to change your current elections in several plans.
Bonding with your new child is your first priority after you welcome him or her into your life and we’re proud to offer a generous Parental Leave benefit to let you do just that. All new parents—including adoptive and foster parents—can take four weeks of paid parental leave. For birth mothers, this is in addition to disability maternity leave.
To learn about the Parental Leave benefit or to initiate your Parental Leave, call the K-C HR Contact Center at 866-444-4516 between 8 a.m. and 6 p.m. ET, Monday through Friday.
In the First 30 Days...
Enroll Your Child in K-C Benefits
Different benefit plans handle the addition of your new child in different ways—so read the relevant Summary Plan Descriptions (on K-C Benefit Compass > Plan Information tile > Summary Plan Descriptions and Policy Booklets), and make sure you understand the important timelines and eligibility rules.
Update Your Beneficiaries and Your Tax Withholding
They’re easy steps to forget, but you need to name your new addition as a beneficiary in several of your benefit plans (including K-C’s income protection benefits) if you want them named as your beneficiary. You may want to talk to a financial planner or legal resource to determine the best way to protect your family in the event of your death.
If you want a different amount withheld from your paycheck for tax purposes because of your growing family, update your withholding on Workday, under the Pay icon.
…And Further Down the Road
Has Your Retirement Road Map Changed?
Don’t forget to think about any impact your new child will have on your retirement plans. Do you have a spouse contributing to their own retirement nest egg, or do you need to increase your savings? Fidelity offers financial planning assistance at no cost to you!