MERRILL LYNCH RETIREMENT RESERVES MONEY FUND
Merrill Lynch Retirement Series Trust
Supplement Dated October 2, 1998
To Prospectus Dated February 27, 1998
Purchase of Shares
The "Purchase of Shares" section (the "Section") is amended to reflect
that all outstanding shares of the Money Market Fund have been redesignated as
Class I shares and that the offering of Class II shares commenced on October 2,
1998. In connection with the offering, the Section is also amended to delete in
its entirety the description of Class I and Class II offerees and to substitute
the following:
Effective October 2, 1998, Class I shares will be offered to:
- - Any Self-Directed Plan with an active retirement custody account as of
September 30, 1998
- - Any Self-Directed Plan purchasing shares in the Fund through Merrill
Lynch fee-based programs
- - Any pension, profit-sharing, annuity or qualified plan other than a
Self-Directed Plan
Class II shares will be offered to any Self-Directed Plan which did not have an
active retirement custody account as of September 30, 1998 and does not
otherwise qualify as an offeree of Class I shares as described above.
Investment Restrictions
As described in the Prospectus in "Investment Objectives and
Policies-Investment Restrictions," the Board of Trustees approved certain
changes to the Money Market Fund's fundamental investment restrictions. The
changes require the approval of the holders of a majority of the outstanding
voting securities of the Money Market Fund. The required vote was not obtained
with respect to the approval of the changes. Accordingly, the current investment
restrictions as described in the Prospectus and Statement of Additional
Information will continue as the investment restrictions applicable to the Money
Market Fund.
Code # 10093-0298ALL
