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Update on Lawyer Retirement Perspectives

By James D. Cotterman
November 29, 2007

Retirement concerns have been in the news lately as the profession grapples with the issues facing an aging population of law firm owners. In April 2007, the New York State Bar Association ('NYSBA') adopted a position urging its members to abandon mandatory retirement.

Then on the recommendation of the NYSBA, the American Bar Association at its August 2007 annual meeting recommended that law firms end mandatory retirement policies and urged that law firms evaluate their older partners on the basis of individual performgnce. 'The time has come for law firms to put mandatory age-based retirement policies out to pasture.'

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