“The shoemaker’s children go barefoot.” This proverb was never truer than when applied to law firms. In its quest to service clients, many firms inadvertently neglect the long-term interests of their lawyers by failing to offer well-structured retirement plans. Even when the firm provides retirement and investment plans, many individual lawyers are unfamiliar with the options available to them for retirement savings.  Yet, a comprehensive, well-structured plan can provide security and peace of mind to current employees and serve as a recruiting tool to attract and retain talent.

This article provides an overview of retirement plan options that may be available to your firm, as well as the potential advantages and disadvantages of each.

Benefits of a Retirement Plan