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Friedel and Shapiro publish article in CPA Practice Management Forum

Date

September 6, 2011

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1 minute

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Partners Laura Friedel and Russell Shapiro recently published the article, "Where Mandatory Requirement Meets ADEA," in the CPA Practice Management Forum. The article discusses planning for your firm's future without violating age discrimination laws.

From the article:

Developing new leaders—and giving them the roles and responsibility necessary to keep them happy and help the firm move forward—is critical to every accounting firm. However, the flip side of giving opportunities to the next generation is that such opportunities have to be either created anew or taken from older members. (For ease of reference, we use the terms “partner” and “member” interchangeably in this article to refer to partners, members, shareholders, and other, similar classifications, and we use the term “partnership agreement” to refer to the operating agreement of your business, regardless of whether it is a partnership, an LLC, or other structure.) Age-based mandatory retirement programs have long been used as a clear-cut way to move older partners on and give younger ones greater opportunities, but these policies can open the door to age discrimination claims. If your fi rm wants to transition responsibility from one generation to the next, it’s critical that you do so in a way that doesn’t violate age discrimination laws.

See the full article here.

This article is reprinted with the publisher’s permission from CPA PRACTICE MANAGEMENT FORUM, a monthly journal published by CCH, a Wolters Kluwer business. Copying or distribution without the publisher’s permission is prohibited.


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