Russell L. Rusty Olson, who has overseen the $14 billion Eastman Kodak Co. pension funds since 1972, will retire in May. No successor has yet been named. Mr. Olson, 67, joined the treasurers office of Rochester, N.Y.-based Kodak in 1971. He was named assistant to the treasurer for pension investments in 1972 and director of pension investments in 1982. Mr. Olson said he was looking forward to a lifestyle change, but wished to remain active. I will consider any opportunity that offers a serious challenge and where I can make a serious contribution, he said.