Law Firms Reconsider When To Show Partners The Door

May 8, 2010 – In The News
Philadelphia Business Journal

Abraham Reich commented on how firms are reconsidering their age policies due to a New York firm dropping their policy of removing older lawyers from equity partnership after being sued by the Equal Employment Opportunity Commission.

Reich voted with the majority of the American Bar Association’s house of delegates when it adopted recommendations in August 2007 calling on law firms to discontinue mandatory retirement policies and replace them with individual evaluations of senior partners.

Reich said his firm then created an internal committee to evaluate its policy of mandatory retirement at 72. But the majority of the firm’s partnership voted against eliminating it two years ago. The firm’s former chairman, Louis Fryman, left for another firm last year rather than accept mandatory retirement. Reich said the policy was revisited this year and the firm’s executive committee recommended eliminating the policy. The full partnership will put it to a vote in the next few months.