RSI RETIREMENT TRUST
NSAR-A/A, 1998-06-11
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<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  12
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<PAGE>      PAGE  14
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<PAGE>      PAGE  17
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SIGNATURE   STEPHEN P. POLLAK                            
TITLE       VP GEN COUNSEL      

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1  
<NAME> CORE EQUITY FUND
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<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             87.37
<EXPENSE-RATIO>                 0.47
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'S SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> EMERGING GROWTH EQUITY FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               SEP-30-1998
<PERIOD-START>                  OCT-01-1997
<PERIOD-END>                    MAR-31-1998
<INVESTMENTS-AT-COST>           68817237
<INVESTMENTS-AT-VALUE>          86640914
<RECEIVABLES>                   1952918
<ASSETS-OTHER>                  6549
<OTHER-ITEMS-ASSETS>            0
<TOTAL-ASSETS>                  88600381
<PAYABLE-FOR-SECURITIES>        4091477
<SENIOR-LONG-TERM-DEBT>         0
<OTHER-ITEMS-LIABILITIES>       152097
<TOTAL-LIABILITIES>             4243574
<SENIOR-EQUITY>                 0
<PAID-IN-CAPITAL-COMMON>        (38820569)
<SHARES-COMMON-STOCK>           1036723
<SHARES-COMMON-PRIOR>           1084298
<ACCUMULATED-NII-CURRENT>       (3397403)
<OVERDISTRIBUTION-NII>          0
<ACCUMULATED-NET-GAINS>         108751102
<OVERDISTRIBUTION-GAINS>        0
<ACCUM-APPREC-OR-DEPREC>        17823677
<NET-ASSETS>                    84356807
<DIVIDEND-INCOME>               72670
<INTEREST-INCOME>               266705
<OTHER-INCOME>                  0
<EXPENSES-NET>                  775475
<NET-INVESTMENT-INCOME>         (436100)
<REALIZED-GAINS-CURRENT>        4165134
<APPREC-INCREASE-CURRENT>       (7406677)
<NET-CHANGE-FROM-OPS>           (3677643)
<EQUALIZATION>                  0
<DISTRIBUTIONS-OF-INCOME>       0
<DISTRIBUTIONS-OF-GAINS>        0
<DISTRIBUTIONS-OTHER>           0
<NUMBER-OF-SHARES-SOLD>         87617
<NUMBER-OF-SHARES-REDEEMED>     135193
<SHARES-REINVESTED>             0
<NET-CHANGE-IN-ASSETS>          (3554208)
<ACCUMULATED-NII-PRIOR>         (2961305)
<ACCUMULATED-GAINS-PRIOR>       104585969
<OVERDISTRIB-NII-PRIOR>         0
<OVERDIST-NET-GAINS-PRIOR>      0
<GROSS-ADVISORY-FEES>           478035
<INTEREST-EXPENSE>              0
<GROSS-EXPENSE>                 804750
<AVERAGE-NET-ASSETS>            80465867
<PER-SHARE-NAV-BEGIN>           84.47
<PER-SHARE-NII>                 (0.37)
<PER-SHARE-GAIN-APPREC>         (2.73)
<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             81.37
<EXPENSE-RATIO>                 0.96
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'S SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 3  
<NAME> VALUE EQUITY FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               SEP-30-1998
<PERIOD-START>                  OCT-01-1997
<PERIOD-END>                    MAR-31-1998
<INVESTMENTS-AT-COST>           63166190
<INVESTMENTS-AT-VALUE>          77746095
<RECEIVABLES>                   450251
<ASSETS-OTHER>                  24518
<OTHER-ITEMS-ASSETS>            0
<TOTAL-ASSETS>                  78220864
<PAYABLE-FOR-SECURITIES>        1079956
<SENIOR-LONG-TERM-DEBT>         0
<OTHER-ITEMS-LIABILITIES>       83695
<TOTAL-LIABILITIES>             1163651
<SENIOR-EQUITY>                 0
<PAID-IN-CAPITAL-COMMON>        (24178042)
<SHARES-COMMON-STOCK>           1196279
<SHARES-COMMON-PRIOR>           1052751
<ACCUMULATED-NII-CURRENT>       18967224
<OVERDISTRIBUTION-NII>          0
<ACCUMULATED-NET-GAINS>         67686605
<OVERDISTRIBUTION-GAINS>        0
<ACCUM-APPREC-OR-DEPREC>        14581426
<NET-ASSETS>                    77057213
<DIVIDEND-INCOME>               584579
<INTEREST-INCOME>               36813
<OTHER-INCOME>                  0
<EXPENSES-NET>                  361365
<NET-INVESTMENT-INCOME>         260027
<REALIZED-GAINS-CURRENT>        6203354
<APPREC-INCREASE-CURRENT>       961367
<NET-CHANGE-FROM-OPS>           7424748  
<EQUALIZATION>                  0
<DISTRIBUTIONS-OF-INCOME>       0
<DISTRIBUTIONS-OF-GAINS>        0
<DISTRIBUTIONS-OTHER>           0
<NUMBER-OF-SHARES-SOLD>         277740
<NUMBER-OF-SHARES-REDEEMED>     134217
<SHARES-REINVESTED>             0
<NET-CHANGE-IN-ASSETS>          9243393
<ACCUMULATED-NII-PRIOR>         18707196
<ACCUMULATED-GAINS-PRIOR>       61483251
<OVERDISTRIB-NII-PRIOR>         0
<OVERDIST-NET-GAINS-PRIOR>      0
<GROSS-ADVISORY-FEES>           126080
<INTEREST-EXPENSE>              0
<GROSS-EXPENSE>                 363722
<AVERAGE-NET-ASSETS>            61019492
<PER-SHARE-NAV-BEGIN>           57.36
<PER-SHARE-NII>                 0.25
<PER-SHARE-GAIN-APPREC>         6.80
<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             64.41
<EXPENSE-RATIO>                 0.59
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'S SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> INTERNATIONAL EQUITY FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               SEP-30-1998
<PERIOD-START>                  OCT-01-1997
<PERIOD-END>                    MAR-31-1998
<INVESTMENTS-AT-COST>           32871929
<INVESTMENTS-AT-VALUE>          39103467
<RECEIVABLES>                   540392
<ASSETS-OTHER>                  2016894
<OTHER-ITEMS-ASSETS>            0
<TOTAL-ASSETS>                  41660753
<PAYABLE-FOR-SECURITIES>        273861
<SENIOR-LONG-TERM-DEBT>         0
<OTHER-ITEMS-LIABILITIES>       110268
<TOTAL-LIABILITIES>             384129
<SENIOR-EQUITY>                 0
<PAID-IN-CAPITAL-COMMON>        (183660)
<SHARES-COMMON-STOCK>           789170
<SHARES-COMMON-PRIOR>           690533
<ACCUMULATED-NII-CURRENT>       (1721722)
<OVERDISTRIBUTION-NII>          0
<ACCUMULATED-NET-GAINS>         36840625
<OVERDISTRIBUTION-GAINS>        0
<ACCUM-APPREC-OR-DEPREC>        6341381
<NET-ASSETS>                    41276624
<DIVIDEND-INCOME>               146174
<INTEREST-INCOME>               124606
<OTHER-INCOME>                  0
<EXPENSES-NET>                  331581
<NET-INVESTMENT-INCOME>         (60801)
<REALIZED-GAINS-CURRENT>        1043666
<APPREC-INCREASE-CURRENT>       99638
<NET-CHANGE-FROM-OPS>           1082503
<EQUALIZATION>                  0
<DISTRIBUTIONS-OF-INCOME>       0
<DISTRIBUTIONS-OF-GAINS>        0
<DISTRIBUTIONS-OTHER>           0
<NUMBER-OF-SHARES-SOLD>         169033
<NUMBER-OF-SHARES-REDEEMED>     70492
<SHARES-REINVESTED>             0
<NET-CHANGE-IN-ASSETS>          4917826
<ACCUMULATED-NII-PRIOR>         (1660921)
<ACCUMULATED-GAINS-PRIOR>       35795148
<OVERDISTRIB-NII-PRIOR>         0
<OVERDIST-NET-GAINS-PRIOR>      0
<GROSS-ADVISORY-FEES>           135276
<INTEREST-EXPENSE>              0
<GROSS-EXPENSE>                 341581
<AVERAGE-NET-ASSETS>            33698345
<PER-SHARE-NAV-BEGIN>           51.09
<PER-SHARE-NII>                 (0.14)
<PER-SHARE-GAIN-APPREC>         1.35
<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             52.30
<EXPENSE-RATIO>                 0.99
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'S SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> SHORT TERM INVESTMENT FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               SEP-30-1998
<PERIOD-START>                  OCT-01-1997
<PERIOD-END>                    MAR-31-1998
<INVESTMENTS-AT-COST>           22629180 
<INVESTMENTS-AT-VALUE>          22635438
<RECEIVABLES>                   229460
<ASSETS-OTHER>                  21077
<OTHER-ITEMS-ASSETS>            0
<TOTAL-ASSETS>                  22885975
<PAYABLE-FOR-SECURITIES>        11192
<SENIOR-LONG-TERM-DEBT>         0
<OTHER-ITEMS-LIABILITIES>       53448
<TOTAL-LIABILITIES>             64640
<SENIOR-EQUITY>                 0
<PAID-IN-CAPITAL-COMMON>        (20023574)
<SHARES-COMMON-STOCK>           1049303
<SHARES-COMMON-PRIOR>           1272760
<ACCUMULATED-NII-CURRENT>       41508736
<OVERDISTRIBUTION-NII>          0
<ACCUMULATED-NET-GAINS>         1329915
<OVERDISTRIBUTION-GAINS>        0
<ACCUM-APPREC-OR-DEPREC>        6258
<NET-ASSETS>                    22821335
<DIVIDEND-INCOME>               0
<INTEREST-INCOME>               743629
<OTHER-INCOME>                  0
<EXPENSES-NET>                  104741
<NET-INVESTMENT-INCOME>         638888
<REALIZED-GAINS-CURRENT>        1
<APPREC-INCREASE-CURRENT>       (10333)
<NET-CHANGE-FROM-OPS>           628556
<EQUALIZATION>                  0
<DISTRIBUTIONS-OF-INCOME>       0
<DISTRIBUTIONS-OF-GAINS>        0
<DISTRIBUTIONS-OTHER>           0
<NUMBER-OF-SHARES-SOLD>         1699721
<NUMBER-OF-SHARES-REDEEMED>     (1923202)
<SHARES-REINVESTED>             0
<NET-CHANGE-IN-ASSETS>          (4828256)
<ACCUMULATED-NII-PRIOR>         40869851
<ACCUMULATED-GAINS-PRIOR>       1329911
<OVERDISTRIB-NII-PRIOR>         0
<OVERDIST-NET-GAINS-PRIOR>      0
<GROSS-ADVISORY-FEES>           32487
<INTEREST-EXPENSE>              0
<GROSS-EXPENSE>                 168626  
<AVERAGE-NET-ASSETS>            26060379
<PER-SHARE-NAV-BEGIN>           21.23
<PER-SHARE-NII>                 0.53
<PER-SHARE-GAIN-APPREC>         (0.01)
<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             21.75
<EXPENSE-RATIO>                 0.40
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'S SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> INTERMEDIATE TERM BOND FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               SEP-30-1998
<PERIOD-START>                  OCT-01-1997
<PERIOD-END>                    MAR-31-1998
<INVESTMENTS-AT-COST>           63886356
<INVESTMENTS-AT-VALUE>          64838996
<RECEIVABLES>                   714409
<ASSETS-OTHER>                  24481
<OTHER-ITEMS-ASSETS>            0
<TOTAL-ASSETS>                  65577886
<PAYABLE-FOR-SECURITIES>        966341
<SENIOR-LONG-TERM-DEBT>         0
<OTHER-ITEMS-LIABILITIES>       81178
<TOTAL-LIABILITIES>             1047519
<SENIOR-EQUITY>                 0
<PAID-IN-CAPITAL-COMMON>        (76645976)
<SHARES-COMMON-STOCK>           1980859
<SHARES-COMMON-PRIOR>           2167435
<ACCUMULATED-NII-CURRENT>       124796803
<OVERDISTRIBUTION-NII>          0
<ACCUMULATED-NET-GAINS>         15426900
<OVERDISTRIBUTION-GAINS>        0
<ACCUM-APPREC-OR-DEPREC>        952640
<NET-ASSETS>                    64530367
<DIVIDEND-INCOME>               0
<INTEREST-INCOME>               2349787
<OTHER-INCOME>                  0
<EXPENSES-NET>                  359636
<NET-INVESTMENT-INCOME>         1990151
<REALIZED-GAINS-CURRENT>        192346
<APPREC-INCREASE-CURRENT>       (99191)
<NET-CHANGE-FROM-OPS>           2083306
<EQUALIZATION>                  0
<DISTRIBUTIONS-OF-INCOME>       0
<DISTRIBUTIONS-OF-GAINS>        0
<DISTRIBUTIONS-OTHER>           0
<NUMBER-OF-SHARES-SOLD>         88893
<NUMBER-OF-SHARES-REDEEMED>     275472
<SHARES-REINVESTED>             0
<NET-CHANGE-IN-ASSETS>          (5941707)
<ACCUMULATED-NII-PRIOR>         122806652
<ACCUMULATED-GAINS-PRIOR>       15234554
<OVERDISTRIB-NII-PRIOR>         0
<OVERDIST-NET-GAINS-PRIOR>      0
<GROSS-ADVISORY-FEES>           122523
<INTEREST-EXPENSE>              0
<GROSS-EXPENSE>                 359636
<AVERAGE-NET-ASSETS>            65283044
<PER-SHARE-NAV-BEGIN>           31.55
<PER-SHARE-NII>                 0.98
<PER-SHARE-GAIN-APPREC>         0.05
<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             32.58
<EXPENSE-RATIO>                 0.55
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS
FOUND IN THE COMPANY'S SEMI-ANNUAL REPORT, AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 8
<NAME> ACTIVELY MANAGED BOND FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               SEP-30-1998
<PERIOD-START>                  OCT-01-1997
<PERIOD-END>                    MAR-31-1998
<INVESTMENTS-AT-COST>           141832069
<INVESTMENTS-AT-VALUE>          146583155
<RECEIVABLES>                   876623
<ASSETS-OTHER>                  51039
<OTHER-ITEMS-ASSETS>            0
<TOTAL-ASSETS>                  147510817
<PAYABLE-FOR-SECURITIES>        110824
<SENIOR-LONG-TERM-DEBT>         0
<OTHER-ITEMS-LIABILITIES>       131489
<TOTAL-LIABILITIES>             242313
<SENIOR-EQUITY>                 0
<PAID-IN-CAPITAL-COMMON>        (54169658)
<SHARES-COMMON-STOCK>           4162502
<SHARES-COMMON-PRIOR>           4341073
<ACCUMULATED-NII-CURRENT>       184641690
<OVERDISTRIBUTION-NII>          0
<ACCUMULATED-NET-GAINS>         597854
<OVERDISTRIBUTION-GAINS>        0
<ACCUM-APPREC-OR-DEPREC>        (902738)
<NET-ASSETS>                    147268504
<DIVIDEND-INCOME>               0
<INTEREST-INCOME>               5216713
<OTHER-INCOME>                  0
<EXPENSES-NET>                  601218
<NET-INVESTMENT-INCOME>         4615495
<REALIZED-GAINS-CURRENT>        1521077
<APPREC-INCREASE-CURRENT>       136063
<NET-CHANGE-FROM-OPS>           6272635
<EQUALIZATION>                  0
<DISTRIBUTIONS-OF-INCOME>       0
<DISTRIBUTIONS-OF-GAINS>        0
<DISTRIBUTIONS-OTHER>           0
<NUMBER-OF-SHARES-SOLD>         226471
<NUMBER-OF-SHARES-REDEEMED>     405042
<SHARES-REINVESTED>             0
<NET-CHANGE-IN-ASSETS>          (6142937)
<ACCUMULATED-NII-PRIOR>         156577524
<ACCUMULATED-GAINS-PRIOR>       33972981
<OVERDISTRIB-NII-PRIOR>         0
<OVERDIST-NET-GAINS-PRIOR>      0
<GROSS-ADVISORY-FEES>           244439
<INTEREST-EXPENSE>              0
<GROSS-EXPENSE>                 601218
<AVERAGE-NET-ASSETS>            146743566
<PER-SHARE-NAV-BEGIN>           33.89
<PER-SHARE-NII>                 1.10
<PER-SHARE-GAIN-APPREC>         0.39
<PER-SHARE-DIVIDEND>            0
<PER-SHARE-DISTRIBUTIONS>       0
<RETURNS-OF-CAPITAL>            0
<PER-SHARE-NAV-END>             35.38
<EXPENSE-RATIO>                 0.41
<AVG-DEBT-OUTSTANDING>          0
<AVG-DEBT-PER-SHARE>            0
        

</TABLE>


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