Partner Unfunded Retirement Plans
Typically, 95% Votes for Approval to Change the Retirement Plan and the Partnership Agreement
Nearly a quarter of major firms and most first-generation firms have unfunded plans continuing in place for payments to retired partners. Most firms that had an unfunded retirement have discontinued their program allowing no new partner entrants or have modified their plan to curtail payments going forward.
We have closed and/or modified plans in firms ranging from those with active founders to large firms with hundreds of partners. Our goal in these engagements is to provide a transition from the current plan that can generate a strong consensus for change among partners at all stages of their careers.
Unfunded Partner Retirement Plans Modified 35 +