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PJam1989
- Posts: 70
- Joined: Fri Mar 27, 2015 8:39 pm
Deleted Post
Deleted Post
Last edited by PJam1989 on Fri Mar 04, 2016 10:52 pm, edited 2 times in total.
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Abbie Doobie
- Posts: 591
- Joined: Wed Apr 09, 2014 12:02 pm
Re: Do Lawyers Have Pensions?
the majority don't even have a matching 401k let a lone a pension
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LawyerNever
- Posts: 187
- Joined: Wed Aug 26, 2015 11:57 pm
Re: Do Lawyers Have Pensions?
Very few people in any field get pensions now.
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zot1
- Posts: 4476
- Joined: Thu Jan 31, 2013 12:53 am
Re: Do Lawyers Have Pensions?
Ah... Government.
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Person1111
- Posts: 496
- Joined: Sun Jul 22, 2012 11:10 pm
Re: Do Lawyers Have Pensions?
It's not uncommon for retired equity partners, but it is uncommon to become a retired equity partner.
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84651846190
- Posts: 2198
- Joined: Thu Sep 13, 2012 7:06 pm
Re: Do Lawyers Have Pensions?
equity partners get compensation for life at many firms (and guest offices, and a shitload of other perks). it's nice to be on top in the legal industry (but very very few of us will ever make it there)
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nealric
- Posts: 4397
- Joined: Fri Sep 25, 2009 9:53 am
Re: Do Lawyers Have Pensions?
In-house and government Lawyers may get pensions. These days, the vast majority only offer defined contribution pensions- which means they contribute a certain percentage of your salary each year to a fund but don't guarantee a payout amount.
A few Biglaw firms still do a pension for partners, but they are generally a dying breed.
A few Biglaw firms still do a pension for partners, but they are generally a dying breed.
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Fed_Atty
- Posts: 280
- Joined: Fri Dec 09, 2011 7:01 am
Re: Do Lawyers Have Pensions?
For me, working for the Feds, I get a pension after a certain number of years. Essentially, if I work for 30 years, I get 30% of the average of my highest 3 years salary. Every year after that is an additional 1.1%. If I hang around until I am 65 or so, which is the plan, I'll have 40 years of service so will get 41% of my pay. We also have something called the Thrift Savings Plan, which is essentially an IRA. Government matches contributions up to 5% of salary.
