EXHIBIT (f) (2)

                                     FORM OF
                          RETIREMENT PLAN FOR EACH FUND

     Van Kampen (Fund Name), a registered investment company having its
principal offices at 1 Parkview Plaza, P.O. Box 5555,Oakbrook Terrace, Illinois
60181-5555 (the "Fund"), has adopted this Retirement Plan, effective (date shown
on Annex A) (the "Plan"), for its Eligible Trustees (as defined herein) in order
to recognize and reward the valued services provided by such trustees or
directors, as the case may be, to the Fund.

1.   DEFINITION OF TERMS AND CONSTRUCTION

     1.1 Definitions. Unless a different meaning is plainly implied by the
context, the following terms as used in this Plan shall have the following
meanings:

          (a) "Beneficiary" shall mean such person or persons designated
pursuant to Section 6.4 hereof to receive benefits after the death of the
Eligible Trustee.

          (b) "Board of Trustees" shall mean the Board of Trustees or the Board
of Directors, as the case may be, of the Fund.

          (c) "Capped Retirement Benefit" shall have the meaning described in
Section 3.4.

          (d) "Code" shall mean the Internal Revenue Code of 1986, as amended
from time to time, or any successor statute.

          (e) "Compensation" shall mean an amount equal to $2,500.

          (f) "Disability" shall have the meaning described in Section 5.1.

          (g) "Early Retirement Benefit" shall have the meaning described in
Section 3.3.

          (h) "Effective Date" shall mean.

          (i) "Effective Date Trustee" means a person who is a trustee or
director, as the case may be, of the Fund on the Effective Date.



          (j) "Eligible Retirement Age" shall have the meaning described in
Section 4.1.

          (k) "Eligible Trustee" shall mean a person who: (i) is or becomes a
trustee or director, as the case may be, of the Fund on or after the Effective
Date, and (ii) is, prior to the time of such trustee's or director's, as the
case may be, termination of service, receiving trustee's or director's fees from
the Fund.

          (l) "Fund Complex" shall mean the funds listed on Schedule A attached
hereto as may be amended from time to time.

          (m) "Mandatory Retirement Age" shall have the meaning described in
Section 4.1.

          (n) "Normal Distribution" shall have the meaning described in Section
6.1.

          (o) "Normal Retirement Benefit" shall have the meaning described in
Section 3.2.

          (p) "Plan Committee" shall have the meaning described in Section 8.2.

          (q) "Retirement Benefit" shall mean the applicable normal Retirement
Benefit, Early Retirement Benefit or Capped Retirement Benefit due to such
trustee or director, as the case may be.

          (r) "Retirement Benefit Cap" shall mean the amount listed on Schedule
A attached hereto as may be amended from time to time.

          (s) "Service Requirement" shall have the meaning described in Section
2.1.

          (t) "Years of Service" shall be counted using January 1st of the year
such trustee or director, as the case may be, begins service as a trustee or
director of the Fund and include all completed calendar years of service prior
to such trustee's or director's, as the case may be, termination of service,
including such service performed prior to the adoption of the plan.


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     1.2 Plurals and Gender. Where appearing in this Plan the singular shall
include the plural and the masculine shall include the feminine, and vice versa,
unless the context clearly indicates a different meaning. References herein to
"trustees" shall include trustees of a fund organized as a trust or directors of
a fund organized as a corporation, as the case may be.

     1.3 Headings. The headings and subheadings in this Plan are inserted for
the convenience of reference only and are to be ignored in any construction of
the provisions hereof.

2.   SERVICE REQUIREMENT

     2.1 Service Requirement. Each Eligible Trustee that has completed five (5)
Years of Service as a trustee for the Fund shall be entitled to receive
retirement benefits from the Fund. An Eligible Trustee is not entitled to
benefits pursuant to the Plan merely because such trustee is an Eligible
Trustee; a trustee must meet the Years of Service requirement.

3.   RETIREMENT BENEFIT

     3.1 In General. The retirement benefit amount for an Eligible Trustee
meeting the Service Requirement is determined at the time of such trustee's
termination of service as a trustee. Subject to Sections 3.4 and 5.1, an
Eligible Trustee terminating service as a trustee to the Fund prior to attaining
the Eligible Retirement Age is eligible for the Early Retirement Benefit as
described in Section 3.3. Subject to Section 3.4, an Eligible Trustee
terminating service as a trustee to the fund after attaining the Eligible
Retirement Age is eligible for the Normal Retirement Benefit as described in
Section 3.2. An Eligible Trustee terminating service as a trustee to the Fund
after the Mandatory Retirement Age forfeits and is not entitled to any
retirement benefit under the Plan.

     3.2 Normal Retirement Benefit. The Normal Retirement Benefit shall be 50%
of the Compensation and such benefit shall increase by 10% for each Year of
Service by such trustee in excess of five (5) Years of Service up to a maximum
amount of 100% of the Compensation for any trustee who has completed ten (10) or
more Years of Service.


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Years of Service   Percentage Of Compensation
----------------   --------------------------
                
Less than 5                     0%
5                              50%
6                              60%
7                              70%
8                              80%
9                              90%
10 or more                    100%


     3.3 Early Retirement Benefit. The Early Retirement Benefit shall be the
Normal Retirement Benefit for such trustee based upon such trustee's Years of
Service at the time of such trustee's termination of service reduced by 3% for
each year prior to the Eligible Retirement Age.

     3.4 Retirement Benefit Cap. A trustee shall not receive aggregate
retirement benefits per calendar year from the Fund Complex in excess of the
Retirement Benefit Cap in effect at the time of such trustee's termination of
service. When a trustee would otherwise be entitled to aggregate retirement
benefits from the Fund Complex in excess of the Retirement Benefit Cap but for
this provision, the Fund shall only pay a Capped Retirement Benefit to such
trustee based on its pro rata portion of the retirement benefit the Fund would
have paid relative to the aggregate retirement benefits from the Fund Complex
absent such Retirement Benefit Cap.

4.   RETIREMENT AGE

     4.1 Retirement Age. The Eligible Retirement Age shall be upon attaining the
age of 60. A trustee may elect to continue to serve as a trustee beyond the
Eligible Retirement Age to a Mandatory Retirement Age of December 31st in the
year such trustee reaches the age of 72; provided, however, that the Mandatory
Retirement Age shall be the later of the Mandatory Retirement Age as set forth
herein or as set forth in the by-laws of the Fund as may be amended from time to
time.


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5.   DISABILITY

     5.1 Disability. Disability shall have the meaning as set forth in the Code
under Section 22(e)(3). An Eligible Trustee who becomes disabled, as defined
herein, prior to reaching the Eligible Retirement Age is not subject to the
Early Retirement Benefit provision in section 3.3 but is instead eligible to
receive the lesser of the Normal Retirement Benefit or Capped Retirement Benefit
calculated as described in Section 3 using the Disability date as the date of
such trustee's termination of service.

6.   PAYMENT OF RETIREMENT BENEFITS

     6.1 Retirement or Disability Terminating Trustee's Service. Subject to
Sections 6.2 and 6.3, an Eligible Trustee shall receive the amount of the
applicable Retirement Benefit calculated pursuant to Section 3 for each of the
ten (10) years commencing in the fiscal year of such trustee's termination of
service (the "Normal Distribution"). Payment of benefits to an Eligible Trustee
shall commence, and be paid annually thereafter, at the end of the Fund's fiscal
year. In the event of such Eligible Trustee's death prior to complete
distribution under the Plan, such trustee's Beneficiary shall receive the
remaining retirement benefits based upon the Normal Distribution. In the event
the Eligible Trustee survives the Beneficiary or no Beneficiary has been named,
the Fund shall pay a lump sum amount equal to the actuarial present value of the
remaining retirement benefits to the Eligible Trustee's estate.

     6.2 Death Terminating Trustee's Service. Subject to Section 6.3, in the
event an Eligible Trustee's death causes the termination of service, the
Eligible Trustee's Beneficiary shall receive the amount of the applicable
Retirement Benefit calculated pursuant to Section 3 for each of the ten (10)
years commencing in the fiscal year of such trustee's death. Payment of benefits
to such Beneficiary shall commence, and be paid annually thereafter, at the end
of the Fund's fiscal year. In the event the Eligible Trustee survived the
Beneficiary or no Beneficiary was named, the Fund shall pay a lump sum amount
equal to the actuarial present value of the applicable retirement benefits to
the Eligible Trustee's estate.

     6.3 Liquidation, Dissolution, Winding Up or Distribution of Substantially
All of the Assets of the Fund. Notwithstanding Sections 6.1 or 6.2, in the event
of a liquidation, dissolution or winding up of the Fund or distribution of all
or substantially all of the Fund's assets and property, the Fund shall pay to
each Eligible Trustee serving as a trustee of the Fund on the effective date of
such liquidation, dissolution, winding up or distribution a lump sum amount
equal to the actuarial present value of the applicable Normal Retirement Benefit
or Early Retirement Benefit calculated pursuant to Section 3 using the effective
date of such liquidation, dissolution, winding up or distribution as the date of
such trustee's termination


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of services. In the event an Eligible Trustee terminates services prior to such
liquidation, dissolution, winding up or distribution and such trustee (or such
trustee's Beneficiary) is then receiving payment of benefits pursuant to either
Section 6.1 or 6.2 at the time of such liquidation, dissolution, winding up or
distribution, the Fund shall pay to such trustee (or Beneficiary) on the
effective date of such liquidation, dissolution, winding up or distribution a
lump sum amount equal to the actuarial present value of the remaining retirement
benefits due to such trustee (or Beneficiary).

     6.4 Designation of Beneficiary. The Eligible Trustee's Beneficiary shall be
the person or persons so designated by such trustee in a written instrument
submitted to the President of the Fund. In the event the Eligible Trustee fails
to properly designate a Beneficiary, the Fund shall pay a lump sum amount equal
to the actuarial present value of the applicable retirement benefits to the
Eligible Trustee's estate.

     6.5 Payments Due Missing Persons. The Fund shall make a reasonable effort
to locate all persons entitled to benefits under this Plan. However,
notwithstanding any provisions of this Plan to the contrary, if, after a period
of five (5) years from the date such benefit shall be due, any such persons
entitled to benefits have not been located, their rights under this Plan shall
stand suspended. Before this provision becomes operative, the Fund shall send a
certified letter to all such persons to their last known address advising them
that their benefits under this Plan shall be suspended. Any such suspended
amounts shall be held by the Fund for a period of three (3) additional years (or
a total of eight (8) years from the time the benefits first become payable) and
thereafter, if unclaimed, such amounts shall be forfeited.

     6.6 Actuarial Present Value Calculations. For purposes of this Plan, the
"actuarial present value" of any benefits shall be computed using interest
factors and other reasonable assumptions chosen by the Plan Committee. The Plan
Committee shall have sole and uncontrolled discretion with respect to the
application of the provisions of this paragraph and such exercise of discretion
shall be conclusive and binding on the Eligible Trustee, any Beneficiary or
other person.

7.   AMENDMENTS AND TERMINATION

     7.1 Amendments. The Fund anticipates the Plan to be permanent but the Fund
reserves the right to amend any or all of the provisions of this Plan by action
of its Board of Trustees or Board of Directors, as the case may be, when, in the
sole opinion of the Board of Trustees or Board of Directors, as the case may be,
such amendment is advisable, including for the purposes of complying with any
provision of the Code or any other technical or legal requirements.


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     7.2 Termination. The Fund may by action of its Board of Trustees or Board
of Directors, as the case may be, terminate this Plan at any time.

8.   MISCELLANEOUS.

     8.1 Forfeiture of Benefits. Notwithstanding any other provision of the
Plan, future payment of any retirement benefit hereunder to an Eligible Trustee,
Beneficiary or other person will, at the discretion of the Plan Committee, be
discontinued and forfeited, and the Fund will have no further obligation
hereunder to such Eligible Trustee, Beneficiary or other person, if any of the
following circumstances occur:

          (a) The Eligible Trustee is discharged from the Fund's Board of
Trustees or Board of Directors, as the case may be, for cause;

          (b) The Eligible Trustee engages in competition with the Fund or other
acts considered detrimental or not in the best interests of the Fund or its
shareholders following such trustee's termination of service; or

          (c) The Eligible Trustee performs an act or acts of wilful malfeasance
or reckless disregard of duties in connection with the service as a trustee for
the Fund.

The Plan Committee shall have the sole and uncontrolled discretion with respect
to the application of the provisions of this paragraph and such exercise of
discretion shall be conclusive and binding on the Eligible Trustee, any
Beneficiary or other person.

     8.2 Administration. The Plan shall be administered by a Plan Committee
which shall be composed of three non-affiliated trustees and the principal
financial or accounting officer as designated by the Board of Trustees or Board
of Directors, as the case may be, of the Fund.

     8.3 Agents. The Fund may employ agents and provide for such clerical,
legal, actuarial, accounting, advisory or other services as it deems necessary
to perform its duties under this Plan. The Fund shall bear the cost of such
services and all other expenses it incurs in connection with the administration
of this Plan.

     8.4 Funding and Rights of Creditors. The obligations of the Fund under this
Agreement are unfunded. Neither the Eligible Trustees, the Beneficiaries nor any
other persons shall have any interest in any specific asset or assets of the
Fund for the benefits hereunder, nor any rights to receive distribution of the
benefits except and as to the extent expressly provided hereunder. The rights of
the Eligible Trustees, the Beneficiaries or any other person to the benefits
hereunder are unsecured and shall have no priority over the


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other creditors of the Fund. Any obligation of the Fund hereunder shall be an
unsecured obligation of the Fund and not of any other person in relation to this
Plan.

     8.5 Liability and Indemnification. Except for its own gross negligence,
willful misconduct or willful breach of the terms of this Plan, the Fund shall
be indemnified and held harmless by the Eligible Trustee against liability or
losses occurring by reason of any act or omission of the Fund or any other
person.

     8.6 Incapacity. If the Fund shall receive evidence satisfactory to it that
the Eligible Trustee or any Beneficiary entitled to receive any benefit under
the Plan is, at the time when such benefit becomes payable, a minor, or is
physically or mentally incompetent to receive such benefit and to give a valid
release therefor, and that another person or an institution is then maintaining
or has custody of the Eligible Trustee or Beneficiary and that no guardian,
committee or other representative of the estate of the Eligible Trustee or
Beneficiary shall have been duly appointed, the Fund may make payment of such
benefit otherwise payable to the Trustee or Beneficiary to such other person or
institution, including a custodian under the Uniform Gifts to Minors Act or
corresponding legislation (such custodian shall be an adult, a guardian of the
minor or a trust company), and the release of such other person or institution
shall be a valid and complete discharge for the payment of such benefit.

     8.7 Governing Law. This Plan is established under laws of the State of
Illinois, and all matters concerning its validity, construction and
administration shall be governed by the laws of the State of Illinois.

     8.8 Nonguarantee of Trusteeship. Nothing contained in this Plan shall be
construed as a contract or guarantee of the right of the Eligible Trustee to be,
or remain as, a trustee of the Fund or to receive any, or any particular rate
of, Compensation.

     8.9 Spendthrift Provision. The Eligible Trustee's and Beneficiaries'
interests in the benefits hereunder may not be anticipated, sold, encumbered,
pledged, mortgaged, charged, transferred, alienated, assigned nor become subject
to execution, garnishment or attachment, and any attempt to do so by any person
shall render the benefits immediately forfeitable.

     8.10 Disclosure and Notices. The rights and benefits of Eligible Trustees
under the Plan shall not be represented or evidenced by any form of certificate
or other instrument. Each Eligible Trustee shall receive a copy of the Plan and
the Plan Committee will make available for inspection by any Eligible Trustee a
copy of the rules and regulations used by the Plan Committee in administering
the Plan. For purposes of this Plan, all notices and other communications
provided for in this Plan shall be in writing and shall be deemed


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to have been duly given when delivered personally or mailed by United States
registered or certified mail, return receipt requested, postage prepaid, or by
nationally recognized overnight delivery service providing for a signed return
receipt, addressed to the Eligible Trustee at the home address set forth in the
Fund's records and to the Fund at the address set forth on the first page of
this Plan, provided that all notices to the Fund shall be directed to the
attention of the President of the Fund or to such other address as either party
may have furnished to the other in writing in accordance herewith, except that
notice of change of address shall be effective only upon receipt.

     8.11 Interpretation of Plan. Interpretations of, and determinations related
to, this Plan made by the Plan Committee in good faith, including any
determinations of the amounts of the benefits, shall be conclusive and binding
upon all parties; and the Fund shall not incur any liability to the Eligible
Trustee for any such interpretation or determination so made or for any other
action taken by it in connection with this Plan in good faith.

     8.12 Successors and Assigns. This Agreement shall be binding upon, and
shall inure to the benefit of, the Fund and its successors and assigns and to
the Eligible Trustees and such trustees' heirs, executors, administrators and
personal representatives.


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