<PAGE> PAGE 1
000 A000000 01/31/1999
000 C000000 0000888128
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006 000000 N
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007 C030100 N
007 C010200 2
007 C020200 THE U.S. GOVERNMENT MONEY MARKET SERIES
007 C030200 N
007 C010300 3
007 C020300 THE U.S. GOVERNMENT SECURITIES SERIES
007 C030300 N
007 C010400 4
007 C020400 THE INTERMEDIATE INCOME SECURITIES SERIES
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007 C010500 5
007 C020500 THE AMERICAN VALUE SERIES
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007 C010600 6
007 C020600 THE CAPITAL GROWTH SERIES
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007 C020700 THE DIVIDEND GROWTH SERIES
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007 C020900 THE UTILITIES SERIES
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<PAGE> PAGE 2
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007 C021100 THE GLOBAL EQUITY SERIES
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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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 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
061 001100 0
062 A001100 N
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
063 A001100 0
063 B001100 0.0
066 A001100 Y
066 B001100 N
066 C001100 N
066 D001100 N
066 E001100 N
066 F001100 N
066 G001100 Y
067 001100 N
068 A001100 N
068 B001100 Y
069 001100 N
<PAGE> PAGE 42
070 A011100 Y
070 A021100 Y
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 Y
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 Y
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 0
071 B001100 7090
071 C001100 11069
071 D001100 0
072 A001100 2
072 B001100 19
072 C001100 25
072 D001100 0
072 E001100 0
072 F001100 19
072 G001100 0
072 H001100 0
072 I001100 4
072 J001100 3
072 K001100 0
<PAGE> PAGE 43
072 L001100 0
072 M001100 0
072 N001100 4
072 O001100 0
072 P001100 0
072 Q001100 0
072 R001100 5
072 S001100 0
072 T001100 0
072 U001100 0
072 V001100 0
072 W001100 1
072 X001100 36
072 Y001100 17
072 Z001100 25
072AA001100 2103
072BB001100 1311
072CC011100 0
072CC021100 2565
072DD011100 191
072DD021100 0
072EE001100 588
073 A011100 0.1553
073 A021100 0.0000
073 B001100 0.4777
073 C001100 0.0000
075 A001100 0
075 B001100 16370
076 001100 0.00
SIGNATURE BARRY FINK
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - LIQUID ASSET SERIES
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> LIQUID ASSET SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 16,168,144
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 99,502
<OTHER-INCOME> 0
<EXPENSES-NET> (17,053)
<NET-INVESTMENT-INCOME> 82,449
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 82,449
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (82,459)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 495,327
<NUMBER-OF-SHARES-REDEEMED> (16,759,008)
<SHARES-REINVESTED> 84,496
<NET-CHANGE-IN-ASSETS> (16,168,155)
<ACCUMULATED-NII-PRIOR> 11
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (9,071)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (17,053)
<AVERAGE-NET-ASSETS> 15,767,104
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - U.S. GOVERNMENT MONEY MARKET SERIES
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> U.S. GOVERNMENT MONEY MARKET SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 931,818
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,326
<OTHER-INCOME> 0
<EXPENSES-NET> (984)
<NET-INVESTMENT-INCOME> 4,342
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,342
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,342)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,060
<NUMBER-OF-SHARES-REDEEMED> (945,224)
<SHARES-REINVESTED> 4,460
<NET-CHANGE-IN-ASSETS> (930,572)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (492)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (984)
<AVERAGE-NET-ASSETS> 855,258
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - U.S. GOVERNMENT SECURITIES SERIES
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> U.S. GOVERNMENT SECURITIES SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 896,469
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 68,955
<OTHER-INCOME> 0
<EXPENSES-NET> (10,327)
<NET-INVESTMENT-INCOME> 58,628
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (227,000)
<NET-CHANGE-FROM-OPS> (168,372)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (58,628)
<DISTRIBUTIONS-OF-GAINS> (17,341)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,792
<NUMBER-OF-SHARES-REDEEMED> (1,012,554)
<SHARES-REINVESTED> 7,826
<NET-CHANGE-IN-ASSETS> (8,981,737)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 17,341
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,712
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (10,327)
<AVERAGE-NET-ASSETS> 8,974,400
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - INTERMEDIATE INCOME SECURITIES SERIES
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> INTERMEDIATE INCOME SECURITIES SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 246,953
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,213
<OTHER-INCOME> 0
<EXPENSES-NET> (2,782)
<NET-INVESTMENT-INCOME> 14,431
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (25,650)
<NET-CHANGE-FROM-OPS> (25,650)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,385)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,244
<NUMBER-OF-SHARES-REDEEMED> (5,307)
<SHARES-REINVESTED> 1,532
<NET-CHANGE-IN-ASSETS> (40,035)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (74,115)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,808)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,782)
<AVERAGE-NET-ASSETS> 2,417,322
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - AMERICAN VALUE SERIES
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> AMERICAN VALUE SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 3,312,567
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 31,400
<INTEREST-INCOME> 17,015
<OTHER-INCOME> 0
<EXPENSES-NET> 56,439
<NET-INVESTMENT-INCOME> (8,024)
<REALIZED-GAINS-CURRENT> (135,605)
<APPREC-INCREASE-CURRENT> (9,959,549)
<NET-CHANGE-FROM-OPS> (10,103,178)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (8,459,971)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 88,159
<NUMBER-OF-SHARES-REDEEMED> (331,243)
<SHARES-REINVESTED> 693,422
<NET-CHANGE-IN-ASSETS> (55,635,542)
<ACCUMULATED-NII-PRIOR> (24)
<ACCUMULATED-GAINS-PRIOR> 8,303,399
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (47,973)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61,164)
<AVERAGE-NET-ASSETS> 49,048,006
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - CAPITAL GROWTH SERIES
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> CAPITAL GROWTH SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 235,161
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 924
<INTEREST-INCOME> 422
<OTHER-INCOME> 0
<EXPENSES-NET> 4035
<NET-INVESTMENT-INCOME> (2,689)
<REALIZED-GAINS-CURRENT> (91,953)
<APPREC-INCREASE-CURRENT> 444,499
<NET-CHANGE-FROM-OPS> (447,188)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (408,255)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,976
<NUMBER-OF-SHARES-REDEEMED> (4,086)
<SHARES-REINVESTED> 37,318
<NET-CHANGE-IN-ASSETS> (3,685,093)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 398,304
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,276)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (4,035)
<AVERAGE-NET-ASSETS> 2,970,710
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - DIVIDEND GROWTH SERIES
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> DIVIDEND GROWTH SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 5,417,204
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 365,063
<INTEREST-INCOME> 36,738
<OTHER-INCOME> 0
<EXPENSES-NET> 100,983
<NET-INVESTMENT-INCOME> 300,817
<REALIZED-GAINS-CURRENT> 2,390,109
<APPREC-INCREASE-CURRENT> (18,540,358)
<NET-CHANGE-FROM-OPS> (15,849,432)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (642,172)
<DISTRIBUTIONS-OF-GAINS> (18,185,120)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 82,873
<NUMBER-OF-SHARES-REDEEMED> (91,595)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (103,683,057)
<ACCUMULATED-NII-PRIOR> 341,402
<ACCUMULATED-GAINS-PRIOR> 15,706,986
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (86,197)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (100,983)
<AVERAGE-NET-ASSETS> 99,879,293
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - STRATEGIST SERIES
</LEGEND>
<SERIES>
<NUMBER> 8
<NAME> STRATEGIST SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,230,158
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 18,575
<INTEREST-INCOME> 37,286
<OTHER-INCOME> 0
<EXPENSES-NET> (20,159)
<NET-INVESTMENT-INCOME> 35,702
<REALIZED-GAINS-CURRENT> 153,710
<APPREC-INCREASE-CURRENT> (3,915,164)
<NET-CHANGE-FROM-OPS> (3,725,752)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (223,223)
<DISTRIBUTIONS-OF-GAINS> (1,086,052)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,400
<NUMBER-OF-SHARES-REDEEMED> (33,559)
<SHARES-REINVESTED> 106,445
<NET-CHANGE-IN-ASSETS> (18,222,815)
<ACCUMULATED-NII-PRIOR> 187,525
<ACCUMULATED-GAINS-PRIOR> 914,131
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (4,205)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> (35,156)
<GROSS-EXPENSE> (17,380,529)
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - UTILITIES SERIES
</LEGEND>
<SERIES>
<NUMBER> 9
<NAME> UTILITIES SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 304,732
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 20,881
<INTEREST-INCOME> 1,437
<OTHER-INCOME> 0
<EXPENSES-NET> (5,240)
<NET-INVESTMENT-INCOME> 17,079
<REALIZED-GAINS-CURRENT> 10,154
<APPREC-INCREASE-CURRENT> (887)
<NET-CHANGE-FROM-OPS> 198,848
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (53,684)
<DISTRIBUTIONS-OF-GAINS> (1,062,467)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,496
<NUMBER-OF-SHARES-REDEEMED> 20,155
<SHARES-REINVESTED> 107,945
<NET-CHANGE-IN-ASSETS> (4,495,431)
<ACCUMULATED-NII-PRIOR> 36,606
<ACCUMULATED-GAINS-PRIOR> 1,046,454
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,777
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,240
<AVERAGE-NET-ASSETS> 4,376,344
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - VALUE-ADDED MARKET SERIES
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> VALUE-ADDED MARKET SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 627,210
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 31,720
<INTEREST-INCOME> 91
<OTHER-INCOME> 0
<EXPENSES-NET> (13,038)
<NET-INVESTMENT-INCOME> 18,773
<REALIZED-GAINS-CURRENT> 74,038
<APPREC-INCREASE-CURRENT> (4,966,629)
<NET-CHANGE-FROM-OPS> (4,873,818)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (62,363)
<DISTRIBUTIONS-OF-GAINS> (4,543,925)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,221
<NUMBER-OF-SHARES-REDEEMED> (1,884,061)
<SHARES-REINVESTED> 438,028
<NET-CHANGE-IN-ASSETS> (12,252,050)
<ACCUMULATED-NII-PRIOR> 43,669
<ACCUMULATED-GAINS-PRIOR> 4,317,721
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (6,558)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (13,038)
<AVERAGE-NET-ASSETS> 11,398,485
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW RETIREMENT SERIES - GLOBAL EQUITY SERIES
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> GLOBAL EQUITY SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,247,724
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 24,924
<INTEREST-INCOME> 18,698
<OTHER-INCOME> 0
<EXPENSES-NET> 18,836
<NET-INVESTMENT-INCOME> 24,786
<REALIZED-GAINS-CURRENT> 792,100
<APPREC-INCREASE-CURRENT> (3,981,608)
<NET-CHANGE-FROM-OPS> (3,164,722)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (191,213)
<DISTRIBUTIONS-OF-GAINS> (588,072)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24,848
<NUMBER-OF-SHARES-REDEEMED> (43,416)
<SHARES-REINVESTED> 64,272
<NET-CHANGE-IN-ASSETS> (17,628,458)
<ACCUMULATED-NII-PRIOR> 166,795
<ACCUMULATED-GAINS-PRIOR> (204,168)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (18,837)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (38,638)
<AVERAGE-NET-ASSETS> 16,369,863
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
