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LifeEvents
Birth of Dependent Child

The birth of a child should be a joyful event for your family. However, the realization that your child will be under your direct care for almost two decades can be a cause for stress. The planning and care begin even before your child is born, as soon as you know you are expecting. Although you will be busy with day-by-day adjustments to your life immediately after your child is born, you should start considering long range concerns for the future, including savings and college financing. Parents with more than one child also have decisions to make dealing with optimizing the use of family resources to provide for their aging, changing and growing family. At this time, your benefit plans become increasingly vital to your family's well being.

Forms:

Additional Information:

Health SPD

DB Pension SPD/Plan Document

Can I Ever Lose My Pension Credits?

Planning Notes:

Financial planners recommend that when you have a child you should update a number of personal plans and documents. Here is a checklist of some items which you may need to update, revise, or consider:

Benefit Plan Checklist Items regarding the Health Plans apply only to participants in the Southern California IBEW-NECA Health Plans. However, if you participate in another electrician health plan, it is likely that similar considerations will apply.
	You must complete a new Family Account Change Form as soon as possible after the birth. You must also include a copy of the birth certificate.
	If you are enrolled in an HMO Plan, it is critical that you enroll your newborn within 30 days of birth. The HMO Plan does not automatically enroll newborns, and will not accept late enrollments.
	You will want to review your designation of beneficiary for the Life Insurance (Active), DB and DC Pension Plans.
	Review the rules for coordination of benefits. Coordination of benefits rules govern who will have the primary coverage for your child if both you and your spouse have group health coverage.
	If you think you might be taking Family/Maternity/Paternity Leave you should take a look at the Family and medical Leave Act information, Amendment 17 in the Active Health SPD to see how your benefits may be affected. The Family/Maternity/Paternity Leave also affects DB grace periods - see SPD link for more information.

External Related Links:
(These are listed for your convenience. The sites and the contents of the sites are not sponsored or endorsed by your benefit plans. Use them at your own risk.)

iVillage - A comprehensive reference site providing links to articles and other websites concerning issues of interest to parents. It offers a broad range of information; everything from online help on being a parent, single, traditional, or otherwise. The advice covers the entire age range for children.
Parenthood.com - Articles and web resources of general interest to parents of children of all ages. Deals with topics such as education, health/medical, safety, motherhood & fatherhood, support, etc.
kidsmoney.org - Site set up to show parents ways they can teach their children the value of money. Presents ideas on how children can earn money. Best of all, the site is available in several languages.
College Board - As a national nonprofit association it serves to connect students and their families with colleges. Features information on financial aid services, admission & enrollment, placement & advising, and testing (SAT & ACT).