The Principal Financial Group believes that some of the best uses for the Internet will be for the 401(k) market and that it benefits plan sponsors as well as plan participants.

Over the past three months, Principal has moved 750 of its plan sponsors over to Direct Connect, an Internet-based defined contribution reporting system. The program allows plan sponsors to report participant data and contributions via the Internet, which company officials say is quicker and simpler than sending the information by computer disk or modem.

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