Law firms Shearman abandons defined-benefit scheme to defuse pensions time bomb Legal Business · 4 November 2015 · 2 min read Pay A&O Shearman 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 hires ‘superstar’ US restructuring lawyer as Latham takes A&O Texas headLaw firmsKate Peacock26 Jun 2026Weil takes A&O Shearman fund finance leader in latest City pushLaw firmsKate Peacock26 Jun 2026‘There’s no other global firm that has this footprint’ – A&O Shearman makes the case for EuropeLaw firmsKate Peacock26 Jun 2026‘Setting ourselves up for the future’ – McDermott ups London trainee pay to £70kLaw firmsElisha Juttla1 Nov 2024Slaughter and May matches magic circle peers with NQ pay hike to £150kLaw firmsTom Cox4 Sep 2024‘At the top of UK associate compensation’ – McDermott hikes London NQ pay to $225kLaw firmsElisha Juttla26 Jul 2024Revolving doors: Simpson Thacher, Latham, Sidley lead New Year London movesLaw firmsAnna Huntley9 Jan 2025Five partners vie to succeed Hoyland as Simmons managing partnerLaw firmsTom Cox7 Jan 2025‘Seize every opportunity’ – Paul Hastings partner Reena Gogna on City law, Suits and poetryLaw firmsAnna Huntley7 Jan 2025