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Law Firms Loosening Mandatory Retirement Rules Creates Challenges With Younger Lawyers
Mandatory retirement policies have dogged Big Law for decades, creating partnership tensions and fractures in some law firm client relationships. But more law firms are beginning to loosen their retirement policies, analysts say, even when it creates more challenges with younger generations of lawyers.
The departure of Randy Mastro from Gibson, Dunn & Crutcher, where he spent more than 20 years, was the latest reminder of retirement rules in Big Law. At 65, Mastro hit the firm's mandatory retirement age for top leadership positions in 2021, stepping down from the firm's executive committee. The next year he left for King & Spalding.
Retirement policies vary from firm to firm. And some firms that don't have rules for partnership still have rules for leadership roles. The policies have become a sore issue for firms as the legal profession ages and some baby boomers decide they want to delay retirement.
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