Shearman abandons defined-benefit scheme to defuse pensions time bomb Legal Business4 November 2015Pay While some US law firms have long ignored mounting pension liabilities, relying on annual profits to pay retirees, Shearman & Sterling has become the latest firm to alter its pensions system to limit future payouts. Your limit of 1 article in 30 days is up. Please login for full access or subscribe. Corporate users - click here for simple access (no password needed). For more information, please contact [email protected] Related ContentMore in this categoryTrading places: Paul Weiss signs up five NY partners as Latham, Kirkland, A&O also make movesLinks, Skadden and A&O scoop roles on $9.2bn ice cream deal as Magnum splits from UnileverRevolving Doors: A&O Shearman builds in Riyadh as Kirkland, Paul Hastings, and more make flurry of City hires‘Setting ourselves up for the future’ – McDermott ups London trainee pay to £70kSlaughter and May matches magic circle peers with NQ pay hike to £150k‘At the top of UK associate compensation’ – McDermott hikes London NQ pay to $225kRevolving doors: Simpson Thacher, Latham, Sidley lead New Year London moves‘Seize every opportunity’ – Paul Hastings partner Reena Gogna on City law, Suits and poetryFive partners vie to succeed Hoyland as Simmons managing partner