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Employees of law firms retire at about the same age as workers in other professions and, increasingly, have more options for planning retirement, according to an annual survey. The study found that retirement ages for the legal profession “remains anchored” at 65. Nearly half – 47% – of firms have mandatory retirements, generally between 67 and 70 years of age. A growing number of firms offered participants two, three or four retirement plan options and fewer firms than in previous surveys offered just one retirement play option. The survey included 146 law firms, ranging in size from fewer than 10 to more than 100 lawyers or more. The study is the eighth in a series begun in 1981 to examine retirement policy and practices in U.S. law firms. The Retirement and Withdrawal Survey for Private Law Firms was produced by Altman Weil Publications, a part of ALM, which also owns The National Law Journal.

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