The Equal Employment Opportunity Commission is reportedly pressing PricewaterhouseCoopers and other major accounting firms to drop their longstanding mandatory retirement age policies, and the American Institute of CPAs is asking them to stop.
The Wall Street Journal reported earlier this month that the EEOC’s Chicago office is asking PwC to eliminate its mandatory retirement age of 60 for partners and principals. A 1967 law, the Age Discrimination in Employment Act, prohibits mandatory retirement ages for employees at most types of businesses, but partnerships such as accounting firms are typically exempted on the theory that business owners can’t discriminate against themselves.
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