Bloomberg Law
April 3, 2019, 8:51 AM UTC

Law Firms Weigh Retirement Rules as Baby Boomers Keep Practicing

Elizabeth Olson
Elizabeth Olson
Special Correspondent

Baby Boomers are edging near and crossing over customary retirement age, but an expected wave of partner departures has yet to surface since many lawyers are working past 65, and some into their 70s.

Firms are facing choices about how to grapple with the fact that many Baby Boomers—the massive generation born between 1946 and 1964—aren’t looking to leave their practices anytime soon.

“Around 84.3 percent of Big Law attorneys who are age 60 are partners,” said Michael Allen, the principal of legal recruiter Lateral Link, which draws its research from a database of some 300,000 law firm job candidates. ...

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