# Frank Hoover Easterbrook

> Federal judicial disclosures.

URL: https://www.frixlaw.com/law-library/disclosures/30106

## Record

- **Judge:** Frank Hoover Easterbrook
- **Year:** 2019
- **Pages:** 7

## Text

Vanguard 500 Index Fund — Dividend
Vanguard Prime Money Market Fund
Vanguard Prime Money Market Fund — Buy (add'l)
Vanguard Prime Money Market Fund — Sold (part)
Vanguard Prime Money Market Fund — Sold (part)
Vanguard High-Yield Tax Exempt Fund — Interest
Vanguard High-Yield Tax Exempt Fund — Sold (part)
TIAA Traditional Fund (in UC retirement account) — None
CREF Stock R3 Fund (in UC retirement account) — None
Vanguard High-Yield Corporate Fund (in IRA) — Dividend
Vanguard Short-Term Investment Grade Fund (in IRA) — Dividend
JPMorgan Chase Bank (checking account) — Interest
Vanguard Balanced Index Fund — Int./Div.
Vanguard Balanced Index Fund — Sold (part)
Vanguard Balanced Index Fund — Buy (add'l)
Vanguard Balanced Index Fund — Buy (add'l)
Vanguard Balanced Index Fund — Sold (part)
TIAA-CREF
Vang Inst Idx Inst Plus (TIAA) — None
Vanguard Ttl Bd Mkt Idx InsPl (TIAA) — None
Vang Federal Mny Mkt Inv (TIAA) — None
Vang Inst Tg Rtm Inc Inst (TIAA) — None
Vang Inst Idx Inst Plus (CREF) — None
Vanguard Total InStixlsPs (CREF) — None
Vang Ttl Bd Mkt Idx InsPl (CREF) — None
Vang Federal Mny Mkt Inv (CREF) — None
Vang Inst Rtm Inc Inst (CREF) — None
Senior Lecturer, University of Chicago
Reimbursement — Cornell Law School — February 15-17, 2019 — Ithaca, New York — Moot court — Transportation, lodging, and meals
Reimbursement — Yale Law School — April 9-10, 2019 — New Haven, Connecticut — Moot court — Transportation, lodging, and meals
Reimbursement — University of Oxford — May 16-24, 2019 — Oxford, England — Lectures — Transportation, lodging, and meals
Income — 2019 — University of Chicago - salary — $29,000.16
Income — 2019 — Harvard University Press - royalty — $1,001.31
Income — 2019 — Leg, Inc. (West Academic) - royalty — $473.28
Income — 2019 — Copyright Clearance Center - royalty — $61.16
Spouse's income — 2019 — Alaska Communication Systems Retirement Plan
Spouse's income — 2019 — State of Alaska Retirement Plan
Spouse's income — 2019 — CenturyLink Pension
1. (Part III.A): I have received the approval of the Chief Judge of the Seventh Circuit to teach at the University of Chicago. This income therefore is "outside
earned income" rather than an "honorarium" within the meaning of the Ethics Reform Act of 1989. I accepted gross income exceeding the statutory cap (15% of
Level II of the Executive Schedule) because, under §3(b) of the regulations of the Judicial Conference implementing this statute, "outside earned income" includes
only net taxable income, and therefore excludes pension contributions as well as the "ordinary and necessary expenses paid or incurred in producing this income."
Some of the income reported in Part III.A was contributed to a pension plan through the University of Chicago as part of a salary reduction plan and therefore
does not count for statutory purposes. Moreover, the ordinary and necessary expenses of producing the income--including the cost of commuting between the
courthouse and the Law School and the expenses of equipment and books for my Law School office--are substantial. Net taxable income is less than the statutory
maximum.
2. (Part IV): Travel reimbursement for judicial business and other government reimbursement also omitted.
3. (Part VII): Dividends and capital gains from all mutual funds listed in Part VII are reinvested automatically.
4. (Part VII): Income from my TIAA-CREF retirement accounts is shown as "none" because TIAA-CREF does not supply income information. Statements show
the change in each portfolio's value over the course of each quarter but not how much of that change is attributable to income (interest or dividends) and how
much to change in the market price of the investments. It is accordingly impossible to disentangle these components.
5. (Part VII): My wife turned 70 1/2 in 2018, so in 2019 she became subject to required minimum distributions for income-tax reasons. The amounts shown as
sold in the Vanguard Balanced Index Fund are the gross amounts required to be withdrawn, from which federal taxes were withheld and the rest left on deposit.
(I could restate this, if necessary, showing the amount remitted as taxes as the amount sold, and either ignoring the amount put back into the fund or treating it
as a new investment. Except for the tax payments, the money remains in the same fund under Vanguard's management, though outside of her IRA. Regulation
315.40(b)(5) states that mandatory distributions must be reported but does not give a preferred method of doing so.) The amounts shown as purchases in June 2019
represent rollovers from two AT&T pension funds managed by Fidelity. My wife elected lump sum distributions in lieu of monthly payments, then rolled the lump
sums over to her Vanguard fund.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/disclosures/30106. Public record. Not legal advice.