RETIREMENT SYSTEMS INVESTORS INC
13F-E, 1997-11-19
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                       SECURITIES AND EXCHANGE COMMISSION                                                                         
                                   FORM 13F-E                                                                                     
                                                                                                                                  
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:    09/30/97                                                                        
                                                                                                                                  
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
RETIREMENT SYSTEM INVESTORS INC.                                                                                                  
317 MADISON AVENUE                                                                                                                
NEW YORK                                          NY            10017                                                             
                                                                                                                                  
                                                                                                                                  
                     SECURITIES AND EXCHANGE COMMISSION                                                                           
                                FORM 13F-E                                                                                        
                                                                                                                                  
                                                                                                                                  
Report for the quarter ending September 30, 1997                                                                                  
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
RETIREMENT SYSTEM INVESTORS INC.                                                                                                  
317 MADISON AVENUE                                                                                                                
NEW YORK, NY  10017                                                                                                               
                                                                                                                                  
                                                                                                                                  
     I represent  that I am authorized to submit the attached Forms and that all                                                  
information on these Forms is true, correct and complete,  and I understand that                                                  
all required  items,  statements and schedules are integral parts of these Forms                                                  
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 13, 1997                                                                                                                 
                                                                                                                                  
<PAGE>                                                                                                                            
                                                                                                                                  
                                                                                                                                  
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    NOVEMBER 13, 1997                                           
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
<PAGE>      PAGE   2                                                                                                              
                                                           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
                                                                                                                                  
ALLIEDSIGNAL INC                       COM 019512102           7679750                                                            
ALLSTATE CORP                          COM 020002101           7153376                                                            
ALUMINUM CO AMER                       COM 022249106           1197200                                                            
AMOCO CORP                             COM 031905102           3700800                                                            
ARMSTRONG WORLD INDS INC               COM 042476101           6377644                                                            
BANKAMERICA CORP                       COM 066050105           5498438                                                            
BRISTOL MYERS SQUIBB CO                COM 110122108           1845325                                                            
BRITISH PETE PLC                       COM 110889409           1536313                                                            
CADENCE DESIGN SYSTEM INC              COM 127387108           1481950                                                            
CARMIKE CINEMAS INC                    COM 143436103            744000                                                            
CHASE MANHATTAN CORP                   COM 161610100           5813152                                                            
CHRYSLER CORP                          COM 171196108            835644                                                            
CINCINNATI GAS & ELECTRIC COMPANY      COM 172070104           1133531                                                            
CINCINNATI MILACRON INC                COM 172172108           1281938                                                            
CISCO SYS INC                          COM 17275R102           2031138                                                            
CITICORP                               COM 173034109           7205838                                                            
COMPUTER ASSOC INTL INC                COM 204912109           4692947                                                            
DEERE & CO                             COM 244199105           2838000                                                            
DIAMOND OFFSHORE DRILLING INC          COM 25271C102           2058494                                                            
DOLE FOOD INC                          COM 256605106           3018525                                                            
DRESSER INDS INC                       COM 261597108           7168100                                                            
DU PONT E I DE NEMOURS & CO            COM 263534109           6248594                                                            
E M C CORP MASS                        COM 268648102           3566713                                                            
EMERSON ELEC CO                        COM 291011104           7283800                                                            
EXXON CORP                             COM 302290101           1153125                                                            
FEDERAL NATL MTG ASSN                  COM 313586109          10603200                                                            
FEDERATED DEPT STORES INC DEL          COM 31410H101           1293751                                                            
GENERAL ELEC CO                        COM 369604103           6234525                                                            
GENERAL MTRS CORP                      COM 370442105            756394                                                            
GLAXO HOLDINGS PLC SPONSORED ADR       ADR 37733W105            366226                                                            
GTE CORP                               COM 362320103           8008689                                                            
HARTFORD LIFE                          COM 416592103            553500                                                            
HEWLETT PACKARD CO                     COM 428236103           6260625                                                            
INGERSOLL RAND COMPANY                 COM 456866102           4392375                                                            
INTEL CORP                             COM 458140100          14484401                                                            
INTERNATIONAL BUSINESS MACHS CORP      COM 459200101           6260907                                                            
JOHNSON & JOHNSON                      COM 478160104          13634075                                                            
KEMET CORP                             COM 488360108           1869188                                                            
LEXMARK INTL GROUP INC                 COM 529771107            910800                                                            
LOCKHEED MARTIN CORP                   COM 539830109          14170463                                                            
LUCENT TECHNOLOGIES INC                COM 549463107           4373500                                                            
MANOR CARE INC                         COM 564054104            475475                                                            
MARTIN MARIETTA MATLS                  COM 573284106            792000                                                            
MCI COMMUNICATIONS CORP                COM 552673105            433825                                                            
MEDUSA CORP                            COM 585072309           1014413                                                            
MELLON BK CORP                         COM 585509102           1664400                                                            
MERCK & CO INC                         COM 589331107           7275450                                                            
MORGAN J P & CO INC                    COM 616880100           5351738                                                            
MYLAN LABS INC                         COM 628530107            495869                                                            
NICOR INC                              COM 654086107            937500                                                            
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
<PAGE>      PAGE   3                                                                                                              
                                                           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
                                                                                                                                  
ORACLE CORP                            COM 68389X105           9138526                                                            
PEOPLES ENERGY CORP                    COM 711030106            542700                                                            
PFIZER INC                             COM 717081103           5501725                                                            
PHILIP MORRIS COS INC                  COM 718154107           4571875                                                            
POTASH CORP OF SASK INC                COM 73755L107           3783700                                                            
PROCTER & GAMBLE CO                    COM 742718109           2196188                                                            
ROYAL BK CDA MONTREAL QUE              COM 780087102            491875                                                            
ROYAL DUTCH PETE CO                    COM 780257804           8880000                                                            
SEAGATE TECHNOLOGY                     COM 811804103            534650                                                            
SEARS ROEBUCK & CO                     COM 812387108            614925                                                            
SNAP ON TOOLS                          COM 833034101           1731950                                                            
SOUTHDOWN INC                          COM 841297104           1136200                                                            
SUN MICROSYSTEMS INC                   COM 866810104            888250                                                            
SUNAMERICA  PREFERRED                  PFD 866930860           3915432                                                            
SUNAMERICA INC                         COM 866930100           1973091                                                            
TELLABS INC                            COM 879664100           2544100                                                            
TENET HEALTHCARE CORP                  COM 88033G100           1082722                                                            
TEXACO INC                             COM 881694103           8134326                                                            
TOSCO CORP                             COM 891490302            898163                                                            
TRAVELERS GROUP INC                    COM 894190107           2279550                                                            
U S WEST INC                           COM 912889102           1170400                                                            
ULTRAMAR - DIAMOND SHAMROCK            COM 904000106            336050                                                            
US WEST MEDIA GROUP                    COM 912889201            586819                                                            
WASHINGTON WTR PWR CO                  COM 940688104            810000                                                            
WERNER ENTERPRISES INC                 COM 950755108            273000                                                            
XEROX CORP                             COM 984121103           8747082                                                            
REPORT SUMMARY                 76 DATA RECORDS           278920923            0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED    
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