Do most of the big 4 have a pension still for partners? I thought I heard most got rid of them recently.

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Deloitte has a pension for partners

GT does

BDO does

Kpmg does

PwC does as well

These "pension" plans are almost all non-qualified and unfunded, with future earnings paying the benefits. The big 4 will have to deal with covid pension spikes (benefits are based on the average of top years of earnings). With partner comp at big 4 up 25-30% last year, and up 15-20% this year compared to 2 years ago pre-covid, that is going to burden future partners and leaders. Is it sustainable?

Assume partner A retired fully vested in summer 2019, with high years' avg comp of $950,000, Fully vested. Thats $285,000 pension

Compare to partner B, same situation but retire in summer 2023, high year's avg comp of $1,290,000. Translates to $387,000 pension.

Theres reductions for those who go out early too, But if their average is above the benefit caps, the reduction will be less with the covid windfall earnings factored in.

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