RETIREMENT SYSTEMS INVESTORS INC
13F-E, 1996-11-15
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                       SECURITIES AND EXCHANGE COMMISSION                                                                         
                                   FORM 13F-E                                                                                     
                                                                                                                                  
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:    09/30/96                                                                        
                                                                                                                                  
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
RETIREMENT SYSTEM INVESTORS INC.                                                                                                  
317 MADISON AVENUE                                                                                                                
NEW YORK                                          NY            10017                                                             
                                                                                                                                  
                                                                                                                                  
                     SECURITIES AND EXCHANGE COMMISSION                                                                           
                                FORM 13F-E                                                                                        
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:   09/30/96                                                                         
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
RETIREMENT SYSTEM INVESTORS INC.                                                                                                  
317 MADISON AVENUE                                                                                                                
NEW YORK, NY  10017                                                                                                               
                                                                                                                                  
I represent that I am authorized to submit this Form and that all information                                                     
in this Form and the attachments to it is true, correct and complete, and I                                                       
understand that all required items, statements and schedules are integral                                                         
parts of this Form and that the submission of any amendment represents that                                                       
all unamended items, statements and schedules remain true, correct and                                                            
complete as previously submitted.                                                                                                 
                                                                                                                                  
I am signing this report as required by the Securities Exchange Act of 1934.                                                      
                                                                                                                                  
                                                                                                                                  
/s/ Stephen P. Pollak                Vice President           (212) 503-0150                                                      
                                                                                                                                  
                                                                                                                                  
Place and Date of Signing:                                                                                                        
                                                                                                                                  
New York, NY                                                                                                                      
November 15, 1996                                                                                                                 
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
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                 [RETIREMENT SYSTEM GROUP INC. Letterhead]                                                                        
                                                                                                                                  
                                                                                                                                  
November 15, 1996                                                                                                                 
                                                                                                                                  
                                                                                                                                  
Securities and Exchange Commission                                                                                                
Office of Applications and Report Services                                                                                        
450 Fifth Street, N.W.                                                                                                            
Judiciary Plaza 1                                                                                                                 
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Washington, DC 20549                                                                                                              
                                                                                                                                  
Re: Retirement System Investors Inc.                                                                                              
    Form 13F-E                                                                                                                    
                                                                                                                                  
Gentlemen:                                                                                                                        
                                                                                                                                  
Pursuant to Section 13(f) of the Securities Exchange Act of 1934 and Rule 13f-2,                                                  
attached is a Form 13F-E EDGAR filing, for the calendar quarter ending                                                            
September 30, 1996.                                                                                                               
                                                                                                                                  
Very truly yours,                                                                                                                 
                                                                                                                                  
/s/ Stephen P. Pollak                                                                                                             
Stephen P. Pollak                                                                                                                 
Vice President                                                                                                                    
Retirement System Investors Inc.                                                                                                  
                                                                                                                                  
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Name, Title and Telephone Number of Person Submitting Report:                                                                     
                                                                                                                                  
    STEPHEN P. POLLAK              VICE PRESIDENT               (212) 503-0150                                                    
                                                                                                                                  
                                                                                                                                  
Signature, Place and Date of Signing:                                                                                             
                                                                                                                                  
/s/ STEPHEN P. POLLAK              NEW YORK                     NY    11/15/96                                                    
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
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                                                           VALUE    SHARES/ SH/ PUT/ INVSTMT            -----VOTING AUTHORITY-----
NAME OF ISSUER                 -TITLE OF CLASS- --CUSIP-- (x$1000)  PRN AMT PRN CALL DSCRETN -MANAGERS-      SOLE   SHARED    NONE
                                                                                                                                  
ere & Company                          Com 244199105  $1,663,199     39,600  $1,663,199 Retirement System Investors Inc $1,663,199
le Food Company                        Com 256605106  $1,583,400     37,700  $1,583,400 Retirement System Investors Inc $1,583,400
esser Industries Inc                   Com 261597108  $4,179,875    140,500  $4,179,875 Retirement System Investors Inc $4,179,875
C Communications Corp                  Com 233311109  $3,482,325    138,600  $3,482,325 Retirement System Investors Inc $3,482,325
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