the graceful way to slow down and phase out.
by marc rosenberg
retirements & buyouts
there are two ways that partners slow down as they approach traditional retirement age:
announced – the “cooperative” way to slow down. the partner openly and willingly informs the partners that she wishes to slow down. this change in status is usually related to the retirement process, but some partners who are not retirement-minded may wish to work less than full time in order to pursue other life goals.
more on retirement: mandatory retirement varies by firm size | how to transition clients from retiring partners | retirement plan funding? what funding? | retirement vesting: the devil’s in the details | when retiring partners take a specialty with them | three ways to calculate goodwill payable in partner buyouts, none of them great | the multiple of compensation method, fully explained | clients leaving? time to reduce retirement benefits | partners may balk at guaranteeing retirement obligations
exclusively for pro members. log in here or 2022世界杯足球排名 today.
unannounced – the “uncooperative” way to slow down. in these instances, the partner is either unwilling to cooperate with his partners in working out a sensible, fair phase-down period or is unaware that he needs to phase out of the firm.
to read the full article
