CPI Adds FDIC-Covered Account to DC Platform

August 31, 2010 (PLANSPONSOR.com) –  CPI Qualified Plan Consultants, a third-party recordkeeping and administration company, has added The Bancorp Bank Master Demand Account (MDA) to the CPI retirement plan platform.

A news release said the MDA, an interest-bearing demand deposit account, is an alternative cash vehicle that allows for pass-through FDIC insurance for individual account holders.

The CPI platform offers defined contribution plan sponsors a daily valuation environment with plan design flexibility, according to the company, based in Great Bend, Kansas.

BB&T recently announced a similar product (see BB&T Offers FDIC-Insured Deposit Program to 401(k)s).