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).