It may be a while before mutual funds feel the impact of the "Savers Society" campaign, a recently launched effort by two former vice presidential nominees to encourage companies to offer automatic 401(k) enrollment.

While studies show that automatic enrollment significantly boosts both participation and savings rates, many companies still are concerned about the added expense of employing it, not to mention the risk of a lawsuit by an employee whose investment declines under such a plan, said Ed Ferrigno, vice president of Washington affairs at the Profit Sharing/401(k) Council of America.

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