BigLaw and Retirement Policies

In the wake of the mulit-million dollar settlement of the Sidley Austin case involving the involuntary retirement of older partners, a trend may be starting to abandon mandatory retirement policies for partners at law firms.

The National Law Journal (subscription required) reports:

Law firms clinging to their age-based retirement policies have another reason to rethink their methods for ushering out older attorneys.

The closely watched case involving the legality of the retirement practices at Sidley Austin ended on Oct. 5 without a court's decision on the merits.

But the way the case was resolved and the recent calls from attorney groups for law firms to abandon their age-based retirement policies do not bode well for the mandatory plans.

"This case, as well the [American Bar Association] and New York state policies are indicating a trend, even if the law doesn't require eliminating these policies," said Philip Berkowitz, a partner in the New York office of Nixon Peabody. He represents corporate clients in labor and employment matters.

It seems way past time for these "sophisticated" firms to overcome the old stereotypes about what older employees can accomplish and that it is just arbitrary to assume that when a partner turns 70 or some other age they no longer can provide sufficient value to the firm.  But old myths die hard.

PS