This article considers the debate and literature on unfunded federal mandates in the context of federal health care and pension regulation. The debate over mandated coverage, especially in health care coverage, has more in common with the unfunded mandates literature than just the use of the...

This Article breaks new ground by using agency costs analysis to conceptualize the relationship between benefit plan sponsors and plan participants. The analysis provides normative insights on how governance mechanisms may mitigate agency costs. It also illuminates how those normative insights...