Payroll Network, Inc. Partners with Principal Financial Group

Payroll Network, Inc., a locally owned payroll processing firm serving a wide range of businesses throughout the Washington, DC metropolitan area, recently partnered with the Principal Financial Group, the nations 401(k) leader and total retirement solutions innovator. The company will provide payroll services for the Principal Payroll Programsm, the first program to bundle payroll services, retirement plan administrative services and professional financial consulting into a single package.

KENSINGTON, MD (PRWEB) September 30, 2004 -- Payroll Network, Inc., a locally owned payroll processing firm serving a wide range of businesses throughout the Washington, DC metropolitan area, recently partnered with the Principal Financial Group, the nations 401(k) leader and total retirement solutions innovator. The company will provide payroll services for the Principal Payroll Programsm, the first program to bundle payroll services, retirement plan administrative services and professional financial consulting into a single package.

These fully integrated services streamline administrative tasks, allow clients to focus on core operations, and enable employers to offer the retirement plans best-suited to their employees without the burden of managing them or processing the paperwork. Payroll Network, Inc. will provide the payroll processing functions within the program including 401K deductions from and contributions to employees pay as well as the tax compliance issues that accompany such plans.

The Principal Financial Group is a stellar company, and we are proud to partner with them," said Charles J. Wolf II, president of Payroll Network. This program will allow clients to achieve optimal efficiency, while maximizing investment opportunities. We cant think of a better company than The Principal to work with on this venture."

Payroll Network provides an easy to use, cost-effective and efficient payroll processing system. The company enables clients to save time and cost, and increase productivity by blending traditional accounting and human resources stand-alone functions into one system that completes tasks simultaneously. The companys partnerships with CPAs, banks, and insurance and benefits firms ensure compliance regarding tax, insurance and human resource issues for clients. The payroll processing service can bundle issues such as human resources, payroll, and time and attendance for greater consistency and efficiency as well.

About Payroll Network, Inc.
Incorporated in 1997 and headquartered in Kensington, Maryland, Payroll Network, Inc. is a rapidly growing company focused on providing payroll processing services and solutions to its clients. Its breadth of products and services enable clients to streamline their human resource, payroll, and tax issues for enhanced productivity and profitability. Clients include organizations, ranging in size from less than 100 to more than 2,500 employees. For more information, please visit http://www.payrollnetwork.com.

About the Principal Financial Group
The Principal Financial GroupÒ (The Principal ®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $152.1 billion in assets under management and serves some 14.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

Media Contact: Julie Johnson
P.O. Box 285
Leesburg, VA 20178-0285
Voice: (703) 443-0243
Email: jjohnson@juliewrites.com

Corporate Contact: Charles J. Wolf II, CPA
President
Payroll Network, Inc.
4940 Nicholson Court, Suite 200
Kensington, MD 20895
Voice: (301) 770-0721
Fax: (301) 770-4666
Email:cwolf@payrollnetwork.com
Web site: www.payrollnetwork.com

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