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Only 38% of lawyers agree with mandatory retirement policies at law firms, but half of law firms have such rules on the books, according to the Altman Weil Flash Survey on Lawyer Retirement. Many “Baby Boom” generation lawyers are changing their perspectives about retirement as they reach their late fifties and early sixties, said Altman Weil principal James D. Cotterman. “This change in perspective is rational as their vested interests have changed, however, it may also serve the firm’s interests to retain the skills, wisdom and Rolodexes of these veteran lawyers,” Cotterman said. Forty-one percent of lawyers who agreed with mandatory retirement rules consider 70 the most appropriate age, while 31% believe it should be 65. The Newtown Square, Pa.-based Altman Weil said 521 lawyers in management roles at U.S. law firms responded to the survey, which was conducted in September.

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