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Financial Planning > Behavioral Finance

Principal To Consolidate Employee Data

By Staff Writer

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An insurer is offering a Web-based benefits administration system that can draw on employee data from several different insurance carriers.

Principal Financial Group Inc., Des Moines, Iowa, says the eBenefits Edge system can tie into most payroll systems and link with the computer systems of most other insurers.

The system can send weekly employee data updates to carriers and payroll services to help reduce data entry demands, Principal says.

The system could be especially helpful to employers with high turnover rates or multiple locations, Principal says.