SUPPLEMENT dated September 6, 1996
to the PROSPECTUS dated November 22, 1995 of
TOMORROW FUNDS RETIREMENT TRUST
Tomorrow Long-Term Retirement Fund
Tomorrow Medium-Term Retirement Fund
Tomorrow Short-Term Retirement Fund
Tomorrow Post-Retirement Fund
(the Tomorrow Funds Prospectus)
and to the PROSPECTUS dated November 22, 1995 of
TOMORROW FUNDS RETIREMENT TRUST
Core Large-Cap Stock Fund
Core Small-Cap Stock Fund
(the Core Funds Prospectus)
Institutional Class Shares
______________________________________________________________________________
MANAGEMENT OF THE TOMORROW FUNDS - Investment Adviser (Tomorrow Funds
Prospectus)
The following replaces the second, third and fourth sentences of the
third paragraph on page 18 of the Tomorrow Funds Prospectus:
Daniel J. Cardell is primarily responsible for the day-to-day management of
the assets of each Tomorrow Fund allocated to large, medium and small
capitalization stocks. Mr. Cardell has been a principal of the Adviser since
May 1996. Prior to joining the Adviser, Mr. Cardell was Senior Vice President
and Director of Equities for the Bank of America.
MANAGEMENT OF THE FUNDS - Investment Adviser (Core Funds Prospectus)
The following replaces the last paragraph on page 14 of the Core Funds
Prospectus:
Daniel J. Cardell is primarily responsible for the day-to-day management
of each Fund's portfolio. Mr. Cardell has been a principal of the Adviser since
May 1996. Prior to joining the Adviser, Mr. Cardell was Senior Vice President
and Director of Equities for the Bank of America.
FINANCIAL HIGHLIGHTS (Tomorrow Funds Prospectus and Core Funds Prospectus)
The following table represent a condensed unaudited financial history for
each Fund since inception. The table expresses the information for each Fund
in terms of a single share for the Fund outstanding throughout the period.
The Funds' Semi-Annual Report includes more information about the Funds'
performance and is available free of charge by writing to the Trust at the
address shown on the cover of this Prospectus.
Please turn over for Financial Highlights Table
<PAGE>
<TABLE>
<CAPTION>
TOMORROW FUNDS RETIREMENT TRUST
Financial Highlights (Unaudited)
<S> <C> <C> <C> <C> <C> <C> <C>
$ per share
Net
Net Realized Total Net
Asset and Income Asset
Value at Net Unrealized From Value at
Beginning Investment Gains on Investment End of Total Net
of Period Income Securities Operations Period Return# Assets
Large Cap - Institutional Shares
For the period February 6, 1996*
through June 30, 1996 $10.00 0.09 0.50 0.59 $10.59 5.90% $676,333
Small Cap - Institutional Shares
For the period February 6, 1996*
through June 30, 1996 6.50 0.06 0.29 0.35 6.85 5.38% 1,192,806
Long-Term Retirement
Institutional Shares
For the period April 2, 1996*
through June 30, 1996 6.51 0.03 0.12 0.15 6.66 2.30% 47,341
Medium-Term Retirement
Institutional Shares
For the period April 2, 1996*
through June 30, 1996 7.53 0.03 0.09 0.12 7.65 1.59% 185,701
Short-Term Retirement
Institutional Shares
For the period March 7, 1996*
through June 30, 1996 8.51 0.02 0.10 0.12 8.63 1.41% 25,039
<FN>
+ Annualized.
# Not annualized.
* Commencement of operations.
</FN>
</TABLE>
<TABLE>
<CAPTION>
TOMORROW FUNDS RETIREMENT TRUST
Financial Highlights (Unaudited)
<S> <C> <C> <C> <C> <C> <C>
Ratio information
ratios assuming no fee waivers
or reimbursements
Ratio of Ratio of Ratio of Ratio of
Expenses Net Income Portfolio Average Expenses Net Income
To Average To Average Turnover Commissions To Average To Average
Net Assets+ Net Assets+ Rate Per Share Net Assets+ Net Assets+
Large Cap - Institutional Shares
For the period February 6, 1996*
through June 30, 1996 1.25% 2.61% 1.79% $0.035 28.51% -24.65%
Small Cap - Institutional Shares
For the period February 6, 1996*
through June 30, 1996 1.25% 2.43% 3.07% 0.035 16.82% -13.14%
Long-Term Retirement
Institutional Shares
For the period April 2, 1996*
through June 30, 1996 1.50% 1.76% 7.13% 0.035 99.52% -96.26%
Medium-Term Retirement
Institutional Shares
For the period April 2, 1996*
through June 30, 1996 1.50% 1.88% 8.81% 0.035 31.35% -27.97%
Short-Term Retirement
Institutional Shares
For the period March 7, 1996*
through June 30, 1996 1.50% 2.47% 11.61% 0.035 149.97% -146.00%
<FN>
+ Annualized.
# Not annualized.
* Commencement of operations.
</FN>
</TABLE>
<PAGE>
SUPPLEMENT dated September 6, 1996
to the PROSPECTUS dated November 22, 1995 of
TOMORROW FUNDS RETIREMENT TRUST
Tomorrow Long-Term Retirement Fund
Tomorrow Medium-Term Retirement Fund
Tomorrow Short-Term Retirement Fund
Tomorrow Post-Retirement Fund
(the "Tomorrow Funds Prospectus")
and to the PROSPECTUS dated November 22, 1995 of
TOMORROW FUNDS RETIREMENT TRUST
Core Large-Cap Stock Fund
Core Small-Cap Stock Fund
(the "Core Funds Prospectus")
Adviser Class Shares
______________________________________________________________________________
MANAGEMENT OF THE TOMORROW FUNDS - Investment Adviser
(Tomorrow Funds Prospectus)
The following replaces the second, third and fourth sentences of the
first full paragraph on page 18 of the attached Prospectus:
Daniel J. Cardell is primarily responsible for the day-to-day management
of the assets of each Tomorrow Fund allocated to large, medium and small
capitalization stocks. Mr. Cardell has been a principal of the Adviser since
May 1996. Prior to joining the Adviser, Mr. Cardell was Senior Vice President
and Director of Equities for the Bank of America.
MANAGEMENT OF THE FUNDS - Investment Adviser (Core Funds Prospectus)
The following replaces the fifth full paragraph on page 14 of the attached
Prospectus:
Daniel J. Cardell is primarily responsible for the day-to-day management
of each Fund's portfolio. Mr. Cardell has been a principal of the Adviser
since May 1996. Prior to joining the Adviser, Mr. Cardell was Senior Vice
President and Director of Equities for the Bank of America.
FINANCIAL HIGHLIGHTS (Tomorrow Funds Prospectus)
The following table represents a condensed unaudited financial history
for each Fund since inception. The table expresses the information for each
Fund in terms of a single share for the Fund outstanding throughout the period.
The Funds' Semi-Annual Report includes more information about the Funds'
performance and is available free of charge by writing to the Trust at the
address shown on the cover of this Prospectus.
Please turn over for Financial Highlights Table
<PAGE>
<TABLE>
<CAPTION>
TOMORROW FUNDS RETIREMENT TRUST
Financial Highlights (Unaudited)
<S> <C> <C> <C> <C> <C> <C> <C>
$ per share
Net
Net Realized Total Net
Asset and Income Asset
Value at Net Unrealized From Value at
Beginning Investment Gains on Investment End of Total Net
of Period Income Securities Operations Period Return# Assets
Adviser Shares
For the period March 7, 1996*
through June 30, 1996 6.50 0.03 0.13 0.16 6.66 2.47% 292,257
Medium-Term Retirement
Adviser Shares
For the period March 7, 1996*
through June 30, 1996 7.50 0.03 0.12 0.15 7.65 2.00% 906,022
Short-Term Retirement
Adviser Shares
For the period March 7, 1996*
through June 30, 1996 8.50 0.05 0.08 0.13 8.63 1.53% 1,056,465
<FN>
+ Annualized.
# Not annualized.
* Commencement of operations.
</FN>
</TABLE>
<TABLE>
<CAPTION>
TOMORROW FUNDS RETIREMENT TRUST
Financial Highlights (Unaudited)
<S> <C> <C> <C> <C> <C> <C>
Ratio information
ratios assuming no fee waivers
or reimbursements
Ratio of Ratio of Ratio of Ratio of
Expenses Net Income Portfolio Average Expenses Net Income
To Average To Average Turnover Commissions To Average To Average
Net Assets+ Net Assets+ Rate Per Share Net Assets+ Net Assets+
Adviser Shares
For the period March 7, 1996*
through June 30, 1996 1.75% 1.35% 7.13% 0.035 81.82% -78.72%
Medium-Term Retirement
Adviser Shares
For the period March 7, 1996*
through June 30, 1996 1.75% 1.49% 8.81% 0.035 26.47% -23.23%
Short-Term Retirement
Adviser Shares
For the period March 7, 1996*
through June 30, 1996 1.75% 2.04% 11.61% 0.035 26.17% -22.38%
<FN>
+ Annualized.
# Not annualized.
* Commencement of operations.
</FN>
</TABLE>