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0
0
0
0
0.0475
0
0.0035
0.0035
0.0035
0.0035
0.0035
0.0035
0
0
0
0
0.0025
0.005
<b>Example </b>
42
132
230
518
57
179
313
701
69
218
379
847
78
243
422
942
559
736
929
1485
213
353
612
1352
113
353
612
1352
<b>Portfolio Turnover </b>
<b>Principal Risks </b>
2013-04-01
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MASSMUTUAL SELECT FUNDS
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<b><a name="pro458123_1a"></a>MassMutual Select PIMCO Total Return Fund </b>
0
0
0
0.0575
0
0.0065
0.0065
0.0065
0.0065
0.0065
0
0
0
0.0025
0.005
<b>Example </b>
87
291
511
1146
97
309
539
1199
112
356
619
1372
705
984
1284
2135
268
527
910
1985
<b>Portfolio Turnover </b>
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
0.0071
0.0071
0.0071
0.0071
96
784
1497
3390
101
807
1537
3471
111
837
1586
3563
704
1434
2184
4146
0
0
0
0.0575
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
0.0062
0.0062
0.0062
0.0062
81
252
439
978
85
265
460
1025
93
290
504
1120
686
922
1177
1903
<b>MassMutual Select Mid-Cap Value Fund </b>
<b>INVESTMENT OBJECTIVE </b>
0
0
0
0.0575
0
0.0005
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
0.005
0.0071
0.0071
0.0071
0.0071
0.0071
98
306
531
1178
107
334
579
1283
117
365
633
1398
709
993
1297
2158
273
536
923
2009
173
536
923
2009
<b>Portfolio Turnover </b>
<b>INVESTMENT OBJECTIVE </b>
0
0
0
0.0575
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
0.0069
0.0069
0.0069
0.0069
<b>Example </b>
90
281
488
1084
94
293
509
1131
102
318
552
1225
695
949
1222
1999
<b>Portfolio Turnover </b>
<b>INVESTMENT OBJECTIVE </b>
0
0
0
0.0575
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
0.0073
0.0073
0.0073
0.0073
<b>Example </b>
98
1059
2028
4484
103
1081
2066
4554
113
1111
2112
4634
706
1690
2673
5128
<b>Portfolio Turnover </b>
0.1648
0.163
0.1616
0.0935
<b>INVESTMENT OBJECTIVE </b>
The Fund seeks to approximate as closely as practicable (before fees and expenses) the capitalization-weighted total rate of return of that portion of the U.S. market for publicly-traded common stocks composed of larger-capitalized companies.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
0
0
0
0
0
0.0575
0
0
0
0
0
0
0
0.01
0
0
0
0.0475
0
0.0055
0.0055
0.0055
0.0055
0.0055
0
0
0
0.0025
0.005
69
218
379
847
75
233
406
906
90
281
488
1084
585
817
1068
1784
246
452
782
1713
146
452
782
1713
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>FEES AND EXPENSES OF THE FUND </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 501% of the average value of its portfolio.
Under normal circumstances, the Fund invests at least 65% of its total assets in a diversified portfolio of fixed income securities of varying maturities. (For purposes of this 65% requirement, the Fund may include among its investments exposures created under derivatives transactions.) Fixed income securities include the following bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities: securities issued or guaranteed by the U.S. government, its agencies, or government-sponsored enterprises; corporate debt securities, including convertible securities and corporate commercial paper; mortgage-backed and other asset-backed securities; inflation-indexed bonds issued both by governments and corporations; structured notes, including structured products and event-linked bonds; bank capital and trust preferred securities; loan participations and assignments; delayed funding loans and revolving credit facilities; bank certificates of deposit, fixed time deposits, and bankers' acceptances; repurchase agreements on fixed income securities and reverse repurchase agreements on fixed income securities; debt securities issued by states or local governments and their agencies, authorities, and other government-sponsored enterprises; obligations of non-U.S. governments or their subdivisions, agencies, and government-sponsored enterprises; and obligations of international agencies or supranational entities. The Fund may invest up to 30% of its total assets in non-U.S. dollar-denominated securities of these entities, and may invest without limit in U.S. dollar-denominated securities of foreign issuers. The Fund will normally limit its foreign currency exposure (from non-U.S. dollar- denominated securities or currencies) to 20% of its total assets. The Fund may also invest up to 15% of its total assets in emerging markets.<br/><br/>The Fund may but will not necessarily engage in foreign currency transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance the Fund's investment return or to attempt to protect against adverse changes in currency exchange rates. In pursuing its investment objective, the Fund may (but is not obligated to) use a wide variety of additional exchange-traded and over-the-counter derivatives, including futures contracts (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments); interest rate swaps (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments); and credit default swaps (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments). The Fund may also purchase and sell exchange-traded and over-the-counter options for hedging purposes. Use of derivatives by the Fund may create investment leverage. The Fund may invest up to 10% of its total assets in preferred stocks and convertible securities. The Fund may also invest in money market securities, including commercial paper. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund may sell securities short for hedging or investment purposes.<br/><br/>The Fund invests primarily in investment grade securities (rated Baa or higher by Moody's, BBB or higher by Standard & Poor's or Fitch, or, if unrated, determined by the subadviser to be of comparable quality), but may invest up to 10% of its total assets in below investment grade securities ("junk" or "high yield" bonds), including securities in default. In the event that a security is downgraded after its purchase by the Fund, the Fund may continue to hold the security if the Fund's subadviser, Pacific Investment Management Company LLC ("PIMCO"), considers that doing so would be consistent with the Fund's investment objective.<br/><br/>The Fund may invest in domestic and foreign issuer loans, which are business loans that generally are arranged through private negotiations between a borrower and several financial institutions, and loan participations that pay interest at rates that float or reset periodically at a margin above a generally recognized base lending rate. Certain fixed income securities in which the Fund may invest pay interest at variable or floating rates. Variable rate securities tend to reset at specified intervals, while floating rate securities may reset upon a change in a specified index rate. In most cases, these reset provisions reduce the impact of changes in market interest rates on the value of the security. However, some securities do not track the underlying index directly, but reset based on formulas that may produce a leveraging effect; others may also provide for interest payments that vary inversely with market rates. The market prices of these securities may fluctuate significantly when interest rates change. The Fund may invest in loans of companies whose financial condition is troubled or uncertain and that may be involved in bankruptcy proceedings, reorganizations, or financial restructurings.<br/><br/>The Fund's average portfolio duration is normally expected to be within two years (plus or minus) of the duration of the Barclays U.S. Aggregate Bond Index, as calculated by PIMCO, which as of January 31, 2013 was 4.77 years. Duration measures the price sensitivity of a bond to changes in interest rates. Duration is the dollar weighted average time to maturity of a bond utilizing the present value of all future cash flows.<br/><br/>PIMCO employs an investment approach that attempts to identify areas of the bond market that are undervalued relative to the rest of the market. PIMCO identifies these areas by grouping bonds into sectors such as: money markets, governments, corporates, mortgages, asset-backed, and international. Sophisticated proprietary software then assists in evaluating sectors and pricing specific securities. Once investment opportunities are identified, PIMCO will shift assets among sectors depending upon changes in relative valuations and credit spreads. In selecting securities for the Fund, PIMCO develops an outlook for interest rates, currency exchange rates, and the economy; analyzes credit and call risks, and uses other security selection techniques. The proportion of the Fund's assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate, or maturity) varies based on PIMCO's outlook for the U.S. economy and the economies of other countries in the world, the financial markets, and other factors. The "total return" sought by the Fund consists of income earned on the Fund's investments, plus capital appreciation, if any, which generally arises from decreases in interest rates, foreign currency appreciation, or improving credit fundamentals for a particular sector or security.<br/><br/>The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>INVESTMENTS, RISKS, AND PERFORMANCE <br/><br/>Principal Investment Strategies </b>
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class Z shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
<b>Annual Performance <br/><br/>Class Z Shares </b>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
0
0
0
0
0.01
<b><a name="pro458123_4"></a>MassMutual Select Diversified Value Fund </b>
<b>INVESTMENT OBJECTIVE </b>
This Fund seeks to achieve long-term growth of capital and income by investing primarily in a diversified portfolio of equity securities of larger, well-established companies.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b><a name="pro458123_5"></a>MassMutual Select Fundamental Value Fund </b>
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 38% of the average value of its portfolio.
<b>Principal Risks </b>
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b><a name="pro458123_3"></a>MassMutual Select BlackRock Global Allocation Fund </b>
0.0013
0.0018
0.0033
0.0033
0.0038
<b>INVESTMENT OBJECTIVE </b>
The Fund seeks long-term total return.
0.0068
0.0073
0.0088
0.0113
0.0143
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>INVESTMENT OBJECTIVE </b>
<b><a name="pro458123_12"></a>MassMutual Select Growth Opportunities Fund </b>
<b>INVESTMENT OBJECTIVE </b>
This Fund seeks long-term capital appreciation.
The Fund seeks long-term total return.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>FEES AND EXPENSES OF THE FUND </b>
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>MassMutual Select Focused Value Fund </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>INVESTMENT OBJECTIVE </b>
This Fund seeks growth of capital over the long-term.
<b>MassMutual Select Small Cap Value Equity Fund </b>
<b>FEES AND EXPENSES OF THE FUND </b>
<b>INVESTMENT OBJECTIVE </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>MassMutual Select Small Company Growth Fund </b>
This Fund seeks to maximize total return through investment primarily in small capitalization equity securities.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>INVESTMENTS, RISKS, AND PERFORMANCE <br/><br/>Principal Investment Strategies </b>
<b>INVESTMENT OBJECTIVE </b>
<b>Example </b>
The Fund seeks long-term capital appreciation.
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>FEES AND EXPENSES OF THE FUND </b>
<b>Annual Performance <br/><br/>Class S Shares </b>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
<b>INVESTMENT OBJECTIVE </b>
0
0
0
0.0575
0
0
0
0
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
0
0
0
0
0.0575
0
<b>Portfolio Turnover </b>
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>INVESTMENT OBJECTIVE </b>
<b>FEES AND EXPENSES OF THE FUND </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Example </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>INVESTMENT OBJECTIVE </b>
This Fund seeks growth of capital over the long-term.
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>FEES AND EXPENSES OF THE FUND </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>Portfolio Turnover </b>
<b>Example </b>
<b>Portfolio Turnover </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Principal Risks </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 19% of the average value of its portfolio.
0.008
0.008
0.008
0.008
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 105% of the average value of its portfolio.
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 32% of the average value of its portfolio.
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0
0
0
0.0025
<b>Portfolio Turnover </b>
<b>INVESTMENTS, RISKS, AND PERFORMANCE <br/><br/><b>Principal Investment Strategies </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
The Fund invests primarily in equity securities of smaller companies that the Fund’s subadvisers believe offer potential for long-term growth. Under normal circumstances, the Fund invests at least 80% of its net assets in the securities of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 2000<sup style="VERTICAL-ALIGN: top">®</sup> Index or the S&P SmallCap 600 Index (as of January 31, 2013, between $33 million and $5.26 billion). Equity securities may include common stocks, rights, and warrants. While most assets typically will be invested in common stocks of U.S. companies, the Fund also may invest up to 20% of its total assets in foreign securities and American Depositary Receipts (“ADRs”), including emerging market securities. The Fund may use futures contracts (including equity index futures contracts based primarily on the Russell 2000 Index) as a substitute for direct investments. Use of derivatives by the Fund may create investment leverage. The Fund may hold a portion of its assets in cash or cash equivalents. <br/><br/>The Fund is managed by two subadvisers, The Boston Company Asset Management, LLC (“The Boston Company”) and Eagle Asset Management, Inc. (“Eagle”), each being responsible for a portion of the portfolio, but not necessarily equally weighted. Each subadviser employs a growth-based investment approach and may perform a number of analyses in considering whether to buy or sell a security for the Fund. Each subadviser relies on fundamental research to identify small-cap companies that it believes are experiencing or will experience rapid earnings or revenue growth. A subadviser may consider selling a stock when, in its judgment, the security reaches what is believed to be an unsustainable valuation, a company’s fundamentals deteriorate, the original investment thesis proved incorrect, or the industry dynamics have negatively changed.<br/><br/>The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
0.002
0.003
0.0045
0.0045
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
This Fund seeks to achieve its objective by investing primarily in equity securities of U.S. companies. Under normal market conditions, the Fund invests at least 80% of its net assets in equity securities. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. The Fund typically invests most of its assets in equity securities of U.S. companies, but may invest up to 20% of its total assets in foreign securities and American Depositary Receipts ("ADRs"), including emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund is non-diversified, which means that it may hold larger positions in a smaller number of stocks than a diversified Fund.<br/><br/> The Fund is managed by two subadvisers, Sands Capital Management, LLC ("Sands Capital") and Delaware Management Company ("DMC"), each being responsible for a portion of the portfolio, but not necessarily equally weighted. Sands Capital seeks long-term capital appreciation by investing in stocks believed to have potential for dramatic wealth creation using bottom-up, fundamental research and focusing on six key investment criteria: sustainable, above average earnings growth, a leadership position in a promising business space, significant competitive advantages/unique business franchise, a clear mission and value-added focus, financial strength, and rational valuation relative to the market and business prospects. Sands Capital does not typically invest in companies with market capitalizations less than $1 billion. DMC seeks to select securities that it believes are undervalued in relation to their intrinsic value, as indicated by multiple factors, including the return on capital above its cost of capital. DMC will normally invest in common stocks of companies with market capitalizations of at least $3 billion at the time of purchase. Each subadviser may consider selling a security for the Fund, if, for example, in its judgment, the prospects for future growth do not look promising, a more attractive opportunity is identified, if fundamentals unexpectedly change or if valuations are stretched past fair value.
0.39
<b>Principal Risks </b>
<b>Principal Risks </b>
<b>Principal Risks </b>
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.0017
0.0027
0.0042
0.0042
25000
0.01
0.011
0.0125
0.015
-0.0014
-0.0014
-0.0014
-0.0014
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
0.0086
0.0096
0.0111
0.0136
<b>INVESTMENT OBJECTIVE </b>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
This Fund seeks growth of capital over the long-term.
<b>FEES AND EXPENSES OF THE FUND </b>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>Portfolio Turnover </b>
<b>Example </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 36% of the average value of its portfolio.
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/> <b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/> <b>Convertible Securities Risk </b>Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund's shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/> <b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/> <b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/> <b>Management Risk </b>The Fund relies on the manager's ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/> <b>Non-Diversification Risk </b>Because the Fund may invest its assets in a more limited number of issuers than a diversified fund, a decline in the market value of a particular security may affect the Fund's value more than if the Fund were diversified.<br/><br/> <b>Market Risk </b>The value of the Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/> <b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/> <b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/> <b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Example </b>
<b>Principal Risks </b>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Portfolio Turnover </b>
<b>Principal Risks </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the period July 26, 2012 (commencement of operations) through December 31, 2012, the Fund’s portfolio turnover rate was 10% of the average value of its portfolio.
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Example </b>
<b>Annual Performance<br/><br/>Class S Shares</b>
<b>Performance Information </b>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Frequent Trading/Portfolio Turnover Risk</b> Portfolio turnover generally involves some expense to the Fund and may result in the realization of taxable capital gains (including short-term gains). The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund’s performance.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 58% of the average value of its portfolio.
The Fund invests primarily in common stocks of small-capitalization companies that the subadvisers believe are undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 2000<sup>®</sup> Index or the S&P SmallCap 600 Index (as of January 31, 2013, between $33 million and $5.26 billion). Equity securities may include common stocks, preferred stock, rights, and warrants. The Fund typically invests most of its assets in U.S. companies, but may invest up to 20% of its total assets in foreign securities, including emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents. <br /><br /> The Fund is managed by two subadvisers, Wellington Management Company, LLP (“Wellington Management”) and Barrow, Hanley, Mewhinney & Strauss, LLC. (“Barrow Hanley”), each being responsible for a portion of the portfolio, but not necessarily equally weighted. Each subadviser employs a value-based investment approach and may perform a number of analyses in considering whether to buy or sell a security for the Fund. In selecting investments for the Fund, Wellington Management generally employs a bottom-up stock selection process that utilizes proprietary, fundamental research to identify companies it considers to be undervalued and to have the potential for significant longer-term returns. In selecting securities for the Fund, Barrow Hanley typically seeks to exploit market inefficiencies by using proprietary research to identify small capitalization companies that it considers to be undervalued and to have the potential to generate superior returns while subjecting the Fund to below average levels of risk. A subadviser may consider selling a stock for the Fund if, in its judgment, the security has reached its target price, has failed to perform as expected, or other opportunities appear more attractive.
0.19
0.0069
0.0069
0.0069
0.0069
0.0069
0.0069
March 31, 2014
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
0
0
0
0
0.0575
0
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '03,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">17.18%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap" align="right"> </td> <td valign="bottom" align="right"> </td> <td valign="bottom" nowrap="nowrap" align="right"> </td> <td valign="bottom" nowrap="nowrap" align="right">-19.40%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>Principal Risks </b>
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
<b>Principal Risks </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
0.0786
0.0663
0.0511
0.0779
0.0757
0.0217
0.06
0.0421
0
0
0
0
0.0025
0.005
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 22% of the average value of its portfolio.
You have the potential to make money by investing in the Fund, but you can also lose money.
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies </b>
0
0
0
0
0
0.01
The Fund invests primarily in equity securities of issuers that the Fund's subadviser, Wellington Management Company, LLP ("Wellington Management"), believes are undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities. Equity securities include common stock, preferred stock, securities convertible into common or preferred stock, rights, and warrants. Although the Fund may invest in companies of any size, the Fund will tend to focus on companies with large market capitalizations (which Wellington Management believes are generally above $2 billion). The Fund may invest up to 20% of its total assets in the securities of foreign issuers and American Depositary Receipts ("ADRs"), including emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/>Wellington Management generally employs a bottom-up investment approach based on fundamental analysis of companies with large market capitalizations and estimated below-average projected price-to-earnings ratio. Based on its assessment of various company-specific factors, such as its business environment, management, balance sheet, income statement, cash flow, anticipated earnings, hidden or undervalued assets, dividends, and other related measures of value, Wellington Management seeks to identify what it considers to be overlooked or misunderstood companies with sound fundamentals. Wellington Management generally focuses on what it believes are securities of viable, growing businesses with good financial strength in industries that are temporarily out of favor and under-researched by institutions, but provide the potential for above-average total returns and sell at estimated below-average price-to-earnings multiples. Market timing is not employed, and limited consideration is given to macroeconomic analysis in establishing sector and industry weightings. Wellington Management may sell existing holdings as they approach their price targets.
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
<b>Performance Information </b>
0.0595
0.0595
0.0526
0.0655
0.067
0.0452
0.0466
0.0677
<b>Performance Information </b>
<b>Annual Performance</b><br/><br/><b>Class S Shares </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance. Performance for Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
0.0545
0.0474
0.0444
0.0534
0.0545
0.0367
0.0376
0.055
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund’s inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the “Predecessor Account”); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge. As a mutual fund registered under the Investment Company Act of 1940, as amended (the “1940 Act”), the Fund is subject to certain requirements and restrictions under the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), to which the Predecessor Account was not subject. If the Predecessor Account had been subject to those requirements and restrictions, it might have achieved less favorable investment performance. Because of the difference in tax treatments of the Predecessor Account and the Fund, after-tax performance information is not presented for the five-year or ten-year periods. Past performance is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
0.0021
0.0031
0.0046
0.0046
0.0051
You have the potential to make money by investing in the Fund, but you can also lose money.
0.001
<b>Non-Diversification Risk </b>Because the Fund may invest its assets in a more limited number of issuers than a diversified fund, a decline in the market value of a particular security may affect the Fund's value more than if the Fund were diversified.
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
0.0079
0.009
0.01
0.0115
0.014
0.017
-0.001
-0.001
-0.001
-0.001
-0.001
-0.001
0.007
0.007
0.007
0.007
0.007
0.007
<B>MassMutual Select Mid Cap Growth Equity II Fund </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0
0
0
0
0.0025
0.005
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0.0069
0.008
0.009
0.0105
0.013
0.016
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<b>Annual Performance</b><br/><br/><b>Class S Shares </b>
0.0013
0.002
0.003
0.0045
0.0045
0.005
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '03,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19.73%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-26.27%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
0.0003
0.0003
0.0003
0.0003
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
0.0083
0.009
0.01
0.0115
0.014
0.017
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
-0.0008
-0.0005
-0.0005
-0.0005
-0.0005
-0.0005
1-888-309-3539
0.0075
0.0085
0.0095
0.011
0.0135
0.0165
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
http://www.massmutual.com/funds
Past performance is not necessarily an indication of how the Fund will perform in the future.
The bar chart shows changes in the Fund's performance from year to year for Class S shares. The table shows how the Fund's average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance.
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /> <b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /> <b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /> <b>Management Risk </b>The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /> <b>Market Risk </b>The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /> <b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /> <b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /> <b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued. <br /><br /> <b>Value Company Risk </b>The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
1-888-309-3539
<b>Annual Performance </b><br/><br/><b>Class A Shares </b>
http://www.massmutual.com/funds
<b>Performance Information </b>
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown.
<b>Annual Performance <br/><br/>Class S Shares </b>
The Fund seeks long-term growth of capital.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
0
0
0
0
0.01
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
The Fund began operations July, 26, 2012. Because the Fund is new, there is no table which shows how the Fund’s returns have deviated from the broad market. Performance history will be available for the Fund after it has been in operation for one calendar year.
<b>MM S&P<sup>®</sup> Mid Cap Index Fund</b>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The Fund invests primarily in equity securities of mid-capitalization companies that the Fund’s subadvisers, T. Rowe Price Associates, Inc. (“T. Rowe Price”) and Frontier Capital Management Company, LLC (“Frontier”), believe offer the potential for long-term growth. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. Under normal circumstances, the Fund invests at least 80% of its net assets in a broadly diversified portfolio of common stocks of mid-cap companies whose earnings the subadvisers expect to grow at a faster rate than the average company. The subadvisers currently define “mid-cap” companies as those whose market capitalizations at the time of purchase fall within the market capitalization range of companies included in either the S&P MidCap 400<sup>®</sup> Index or the Russell Midcap<sup>®</sup> Growth Index (as of January 31, 2013, between $393 million and $21.14 billion). The Fund may invest up to 20% of its net assets in stocks whose market capitalizations are outside of that capitalization range. The Fund typically invests most of its assets in equity securities of U.S. companies, but may invest in foreign securities and American Depositary Receipts (“ADRs”), including emerging market securities. The Fund generally will not invest more than 25% of its total assets in foreign securities. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/>In selecting securities for the Fund, T. Rowe Price generally uses a “growth” approach, seeking to identify companies that it believes have proven products or services, a record of above-average earnings growth, demonstrated potential to sustain earnings growth, stock prices that appear to undervalue their growth prospects, or a connection to industries experiencing increasing demand. T. Rowe Price has the discretion to purchase some securities for the Fund that do not meet those investment criteria when it believes there is an opportunity for substantial appreciation.<br/><br/>In selecting securities for the Fund, Frontier employs a Growth-at-a-Reasonable-Price approach to identify the best risk/reward investment ideas in the U.S. equity mid-capitalization universe. Frontier believes that there are three key drivers of long-term, consistent performance. Frontier looks for companies that have: i) sound business models with strong management teams and secular growth prospects; ii) unrecognized earnings power; and iii) attractive valuations.<br/><br/>Each subadviser may sell securities for the Fund for a variety of reasons, such as, for example, to seek to secure gains, limit losses, or redeploy assets into more promising opportunities.
2004-12-31
2004-12-31
2004-12-31
2004-12-31
2004-12-31
2004-12-31
2004-12-31
2004-12-31
0.0029
0.0033
0.0048
0.0048
0.0053
<b>MM Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Small Cap Index Fund</b>
<b>INVESTMENT OBJECTIVE </b>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
0.0094
0.0098
0.0113
0.0138
0.0168
0.0085
0.0095
0.011
0.0135
0.0165
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>Shareholder Fees</b> (fees paid directly from your investment)
77
87
97
112
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0
0
0
0.0575
0
<b>INVESTMENTS, RISKS, AND PERFORMANCE</b><br/><br/><b>Principal Investment Strategies</b>
257
282
313
360
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
Under normal circumstances, the Fund invests at least 80% (and, typically, substantially all) of its net assets in the equity securities of companies included in the Russell 2000 Index (“Index”), in weightings that approximate the relative composition of the securities contained in the Index, and in Russell 2000 Index futures contracts. The Index is a widely recognized, unmanaged index representative of common stocks of smaller capitalized U.S. companies. The companies in the Index are selected according to their total market capitalization. However, companies are not selected by Frank Russell Company for inclusion in the Index because they are expected to have superior stock price performance relative to the stock market in general or other stocks in particular. As of January 31, 2013, the market capitalization range of companies included in the Index was $33 million to $5.26 billion. If the securities represented in the Index were to become concentrated in any particular industry, the Fund’s investments would likewise be concentrated in securities of issuers in that industry; the Index is not currently concentrated in any single industry.<br/><br/>The Fund is passively managed, which means it tries to duplicate the investment composition and performance of the Index by using computer programs and statistical procedures. The Fund’s subadviser, Northern Trust Investments, Inc. (“NTI”), will buy and sell securities in response to changes in the Index. The Fund may use Index futures contracts, a type of derivative, to gain exposure to the Index in lieu of investing in cash, or to reduce its exposure to the Index while it sells the securities in its portfolio. Use of Index futures contracts by the Fund may create investment leverage. Because the Fund, unlike the Index, is subject to fees and transaction expenses, the Fund’s returns are likely to be less than those of the Index. NTI expects that, under normal circumstances, the quarterly performance of the Fund, before fees and expenses, will track the performance of the Index within a 0.95 correlation coefficient.
The Fund seeks to provide investment results approximating (before fees and expenses) the aggregate price and dividend performance of the securities included in the Standard & Poor’s MidCap 400<sup>®</sup> Index (“S&P MidCap 400 Index”)*.<br/><br/>* “Standard & Poor’s<sup>®</sup>,” “S&P<sup>®</sup>,” and “S&P MidCap 400<sup>®</sup> Index” are trademarks of Standard & Poor’s Financial Services LLC (“S&P” or “Standard & Poor’s”) and have been licensed for use by MassMutual. The Fund is not sponsored, endorsed, sold, or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in the Fund.
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Indexing Risk</b> The Fund’s performance may not track the performance of the index exactly due to a number of factors, including fees and expenses of the Fund, and the Fund’s cash positions.<br/><br/><b>Industry Concentration Risk</b> The Fund may concentrate its assets in a particular industry or group of industries. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in that industry or group of industries than if the Fund invested more broadly.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
453
494
548
628
0
0
0
0
0.01
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money. <br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested. <br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock. <br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates. <br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains. <br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses. <br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services. <br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights. <br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments. <br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued. <br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
<b>Performance Information </b>
The Fund normally invests at least 80% of its net assets in stocks, securities convertible into stocks, and other securities, such as warrants and stock rights, whose value is based on stock prices. The Fund typically invests most of its assets in securities of U.S. companies, but may invest up to 25% of its total assets in foreign securities and American Depositary Receipts (“ADRs”), including emerging market securities. The Fund is managed by two subadvisers, each being responsible for a portion of the portfolio, but not necessarily equally weighted. The Fund may invest in real estate investment trusts (“REITs”) and Rule 144A securities. The Fund may hold a portion of its assets in cash or cash equivalents. <br/><br/>Brandywine Global Investment Management, LLC’s (“Brandywine Global”) strategy employs a disciplined combination of quantitative and fundamental management as well as a stock elimination process. From a quantitatively derived universe of attractive large cap stocks with low valuations, Brandywine Global applies a fundamental investment approach which seeks to identify the stocks least likely to outperform and eliminates them from the portfolio. Brandywine Global’s investment process attempts to enhance its returns relative to a pure quantitative universe while still maintaining the consistent characteristics and diversification of that original universe. This diversification results in a relatively large number of holdings (typically greater than 150), which helps to reduce risk and control trading costs. <br/><br/>Brandywine Global utilizes a risk analysis and optimization system in conjunction with its portfolio management process and a common sense overview of sector and industry allocation to strive to maintain a portfolio that considers exposures and their risks in relation to the benchmark. While Brandywine Global does not attempt to match an index, it is aware of exposures relative to the Russell 1000<sup>®</sup> Value Index and makes efforts to manage the risk of exposures that differ from the benchmark while not impeding performance potential. <br/><br/>Brandywine Global generally deems eligible for sale any stock (i) which no longer maintains value characteristics including stocks whose Price-to-Earnings (P/E) or Price-to-Book (P/B) ratios are deemed expensive relative to the market, (ii) whose capitalization falls materially below the smallest stock Brandywine Global would purchase for the portfolio, or (iii) which exhibits any combination of the following characteristics: adverse stock price momentum, adverse share issuance, or deteriorating fundamentals. Brandywine Global may also make a sale based on a holding’s potential impact on the entire portfolio in an effort to lessen the potential risk from differences from the benchmark. In addition, situations may arise, such as tender offers or favorable prices, where Brandywine Global may sell a stock that does not meet these requirements. <br/><br/>Loomis, Sayles & Company, L.P. (“Loomis Sayles”) generally looks for companies that it believes are undervalued by the market in relation to earnings, dividends, assets, and growth prospects. Loomis Sayles’ investments may include companies that have suffered significant business problems but that Loomis Sayles believes have favorable prospects for recovery. Loomis Sayles seeks to identify companies that it believes are, among other things, attractively valued based on Loomis Sayles’ estimate of intrinsic value. Loomis Sayles generally seeks to find value by selecting individual stocks that it believes are attractive, rather than by attempting to achieve investment growth by rotating the portfolio’s holdings among various sectors of the economy.
<b>FEES AND EXPENSES OF THE FUND </b>
1018
1103
1220
1393
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> Moderate Fund </b>
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Example </b>
0
0
0
0
0
0.0575
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>INVESTMENT OBJECTIVE </b>
0
0
0
0
0
0
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
0
0
0
0
<b>FEES AND EXPENSES OF THE FUND </b>
<b>MassMutual Select Strategic Bond Fund</b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
0.001
0.001
0.001
0.001
0.001
0.001
<b>Example </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
This Fund seeks a superior total rate of return by investing in fixed income instruments.
0
0
0
0
0
0.0025
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 37% of the average value of its portfolio.
0.002
0.003
0.0045
0.0055
0.007
0.006
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Principal Risks </b>
705
268
0.0007
0.0007
0.0007
0.0007
0.0007
0.0007
<b>Shareholder Fees</b> (fees paid directly from your investment)
988
531
1292
918
0.0037
0.0047
0.0062
0.0072
0.0087
0.0102
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
2154
2004
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">18.89%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-21.80%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
-0.0011
-0.0011
-0.0011
-0.0011
-0.0011
-0.0011
0.0075
0.0075
0.0075
0.0075
0.0075
0
0
0
0
0
0.01
<b>Example </b>
<b>Example </b>
0
0
0
0.0025
0.005
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
0.0026
0.0036
0.0051
0.0061
0.0076
0.0091
0.001
0.002
0.0035
0.0035
0.004
0.0008
0.0008
0.0008
0.0008
0.0008
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 109% of the average value of its portfolio.
0.0093
0.0103
0.0118
0.0143
0.0173
27
37
52
62
78
663
108
140
187
219
267
871
168
0.0012
0.0016
0.0024
0.0024
<b>MassMutual Select Small Cap Growth Equity Fund</b>
531
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
918
<b>Example </b>
This Fund seeks long-term capital appreciation.
2004
<b>FEES AND EXPENSES OF THE FUND </b>
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
-0.0009
-0.0003
-0.0003
-0.0003
-0.0003
0.0079
0.0091
0.0116
0.0083
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely- held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 417% of the average value of its portfolio.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
70
82
92
107
700
263
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
242
277
308
355
983
526
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Portfolio Turnover </b>
429
489
543
623
1288
914
969
1099
1216
1389
2150
2000
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the period July 26, 2012 (commencement of operations) through December 31, 2012, the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.
Under normal circumstances, the Fund invests at least 80% of its net assets in U.S. dollar-denominated fixed income securities and other debt instruments of domestic and foreign entities, including corporate bonds, securities issued or guaranteed as to principal or interest by the U.S. government or its agencies or instrumentalities, mortgage-backed or asset-backed securities, and money market instruments. The Fund may invest up to 20% of its total assets in non-U.S. dollar-denominated securities of these entities. The Fund may also invest in emerging markets. The Fund may but will not necessarily engage in foreign currency transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to attempt to protect against adverse changes in currency exchange rates. In pursuing its investment objective, the Fund may (but is not obligated to) use a wide variety of additional exchange-traded and over-the-counter derivatives, including futures contracts (for hedging purposes or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio); interest rate swaps (for hedging purposes or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio); credit default swaps (for hedging purposes, to earn additional income, or as a substitute for direct investments); and hybrid instruments (as a substitute for direct investments). The Fund may also purchase and sell exchange-traded and over-the-counter options for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio, or as a substitute for direct investments. Use of derivatives by the Fund may create investment leverage. The Fund may also invest in money market securities, including commercial paper. The Fund may hold a portion of its assets in cash or cash equivalents. <br/><br/>The Fund invests primarily in investment grade securities (rated Baa or higher by Moody’s or BBB or higher by Standard & Poor’s, or, if unrated, determined by the subadviser to be of comparable quality), but may invest up to 25% of the portfolio in below investment grade securities (“junk” or “high yield” bonds), including securities in default. In the event that a security is downgraded after its purchase by the Fund, the Fund may continue to hold the security if the Fund’s subadviser, Western Asset Management Company (“Western Asset”), considers that doing so would be consistent with the Fund’s investment objective. The Fund may invest in domestic and foreign issuer loans and loan participations that pay interest at rates that float or reset periodically at a margin above a generally recognized base lending rate. Certain fixed income securities in which the Fund may invest pay interest at variable or floating rates. Variable rate securities tend to reset at specified intervals, while floating rate securities may reset upon a change in a specified index rate. In most cases, these reset provisions reduce the impact of changes in market interest rates on the value of the security. However, some securities do not track the underlying index directly, but reset based on formulas that may produce a leveraging effect; others may also provide for interest payments that vary inversely with market rates. The market prices of these securities may fluctuate significantly when interest rates change. The Fund may invest in loans of companies whose financial condition is troubled or uncertain and that may be involved in bankruptcy proceedings, reorganizations, or financial restructurings. The Fund may also acquire, and subsequently hold, warrants and other equity interests. <br/><br/> The Fund’s effective duration is normally expected to be between three and seven years. If the Fund’s effective duration falls outside of this range, the Fund will take action to bring it within its expected range within a reasonable period of time. Duration measures the price sensitivity of a bond to changes in interest rates. Duration is the dollar weighted average time to maturity of a bond utilizing the present value of all future cash flows. Effective duration measures the price sensitivity of a bond with embedded options to changes in interest rates. It provides a more accurate measure of price volatility when, due to the embedded options, the cash flow characteristics of the bond change as interest rates shift.<br/><br/> Western Asset employs an opportunistic approach that seeks to capitalize on inefficiencies in fixed income markets to add incremental value to the Fund’s portfolio. Western Asset places significant emphasis on risk management, seeking to exceed returns of the Fund’s benchmark, while approximating benchmark risk. When making investment decisions, Western Asset focuses on sector allocation, issue selection, duration weighting, and term structure, among other considerations. Western Asset generally will buy and sell securities for the Fund based on fundamental analysis and its opinion of value in each sector with the intent to minimize exposure to sectors that Western Asset believes are fully valued or overvalued and to allocate capital to sectors that Western Asset believes are undervalued. In seeking to meet its objective, the Fund emphasizes diversification, the use of multiple strategies and identification of long-term trends. The three key factors that determine the allocation decisions for the Fund are: Western Asset’s outlook for fundamental economic activity, its review of historical yield spreads for corporate debt versus Treasuries, and its evaluation of changes in credit quality and its impact on prices. Western Asset will determine the portion of the Fund’s assets to be allocated to non-U.S. dollar denominated securities from time to time. Western Asset Management Company Limited (“Western Asset Limited”), an affiliate of Western Asset, has subadvisory responsibility for Western Asset’s non-U.S. dollar denominated investments. Western Asset Limited will select the foreign country and currency composition based on its evaluation of relative interest rates, inflation rates, exchange rates, monetary and fiscal policies, trade and current account balances, and any other specific factors Western Asset Limited believes relevant.<br/><br/>The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
<b>Portfolio Turnover </b>
March 31, 2014
0.22
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
You have the potential to make money by investing in the Fund, but you can also lose money.
<b> Principal Risks </b>
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance.
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 104% of the average value of its portfolio.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
0
0
0
0.0575
0
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
<b>Principal Risks </b>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0
0
0
0
0.01
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Performance Information </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 49% of the average value of its portfolio.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
Under normal circumstances, the Fund invests at least 80% (and, typically, substantially all) of its net assets in the equity securities of companies included in the S&P MidCap 400 Index (“Index”), in weightings that approximate the relative composition of the securities contained in the Index, and in S&P MidCap 400 Index futures contracts. The Index is a widely recognized, unmanaged index representative of common stocks of mid-capitalized U.S. companies. The companies chosen for inclusion in the Index tend to be industry leaders within the U.S. economy as determined by Standard & Poor’s<sup>®</sup>. However, companies are not selected by Standard & Poor’s for inclusion in the Index because they are expected to have superior stock price performance relative to the market in general or other stocks in particular. As of January 31, 2013, the market capitalization range of companies included in the Index was $474 million to $16.92 billion. If the securities represented in the Index were to become concentrated in any particular industry, the Fund’s investments would likewise be concentrated in securities of issuers in that industry; the Index is not currently concentrated in any single industry.<br/><br/>The Fund is passively managed, which means it tries to duplicate the investment composition and performance of the Index by using computer programs and statistical procedures. The Fund’s subadviser, Northern Trust Investments, Inc. (“NTI”), will buy and sell securities in response to changes in the Index. The Fund may use Index futures contracts, a type of derivative, to gain exposure to the Index in lieu of investing in cash, or to reduce its exposure to the Index while it sells the securities in its portfolio. Use of Index futures contracts by the Fund may create investment leverage. Because the Fund, unlike the Index, is subject to fees and transaction expenses, the Fund’s returns are likely to be less than those of the Index. NTI expects that, under normal circumstances, the quarterly performance of the Fund, before fees and expenses, will track the performance of the Index within a 0.95 correlation coefficient.
<b>Principal Risks </b>
-0.0853
-0.3261
The Fund invests primarily in equity securities of smaller companies that the subadvisers believe offer potential for long-term growth. Under normal circumstances, the Fund invests at least 80% of its net assets in the securities of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 2000<sup>®</sup> Index or the S&P SmallCap 600 Index (as of January 31, 2013, between $33 million and $5.26 billion). Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. While most assets typically will be invested in common stocks of U.S. companies, the Fund also may invest up to 20% of its total assets in foreign securities, including emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/>The Fund is managed by three subadvisers, Wellington Management Company, LLP ("Wellington Management"), Waddell & Reed Investment Management Company ("Waddell & Reed"), and Timberline Asset Management LLC ("Timberline"), each being responsible for a portion of the portfolio, but not necessarily equally weighted. Each subadviser employs a growth-based investment approach and may perform a number of analyses in considering whether to buy or sell a security for the Fund. Each of the subadvisers uses a combination of fundamental and quantitative analyses to identify small-cap companies that it believes are experiencing or will experience rapid earnings or revenue growth. A subadviser may consider selling a security for the Fund if, for example, in its judgment, target prices are reached, future upside potential is limited, company fundamentals are no longer attractive, superior purchase candidates are identified, or market capitalization ceilings are exceeded.
0.3002
0
0
0
0.0575
0
0.2343
0
0
0
0
0.01
0
0
0
0
0.0575
0
0.0064
0.0064
0.0064
0.0064
0.0064
<b>Principal Risks </b>
-0.0284
0.1635
0
0
0
0.0025
0.005
0
0
0
0
0
0.01
0.0018
0.0031
0.0043
0.0043
0.0048
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q ’09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">14.10%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q ’08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-15.18%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.0082
0.0095
0.0107
0.0132
0.0162
0.1326
0.1313
0.0879
0.1309
0.1297
0.0631
0.1127
0.1526
-0.0006
-0.0013
-0.0009
-0.0013
-0.0011
0.0312
0.0368
0.0283
0.0431
0.0444
0.0391
0.0451
<b>INVESTMENT OBJECTIVE </b>
0.0076
0.0082
0.0098
0.0119
0.0151
0.0752
0.0891
0.092
0.0985
0.1
0.0905
0.101
The Fund invests primarily in equity securities from developed countries included in the MSCI EAFE® Value Index, which is the Fund’s benchmark. The Fund may invest up to 15% of its total assets in equity securities of issuers in emerging markets countries. The Fund typically does not invest in U.S. companies. The Fund may invest a substantial part of its assets in just one region or country.<br /><br />Equity securities in which the Fund invests may include common stocks, preferred stocks, securities convertible into common or preferred stock, depositary receipts, rights and warrants to buy common stocks, and privately placed securities.<br/><br/> The Fund may invest in securities denominated in U.S. dollars, major reserve currencies, and currencies of other countries in which it can invest. <br /><br />The Fund may but will not necessarily engage in foreign currency forward contracts to attempt to protect against adverse changes in currency exchange rates. The Fund may use futures contracts as a substitute for direct investments. Use of derivatives by the Fund may create investment leverage. The Fund may hold a portion of its assets in cash or cash equivalents.<br /><br />In choosing stocks for the Fund, the Fund’s subadviser, J.P. Morgan Investment Management Inc. (“J.P. Morgan”), uses a dividend discount model to quantify its fundamental research, producing a ranking of companies in each industry group according to their relative value. J.P. Morgan then buys and sells stocks, using the research and valuation rankings, as well as its assessment of other factors, including:<ul type="square"><li style="margin-left:-20px"> value characteristics such as low price to book and price to earnings ratios;</li></ul><ul type="square"><li style="margin-left:-20px"> catalysts that could trigger a change in a stock’s price;</li></ul><ul type="square"><li style="margin-left:-20px"> potential reward compared to potential risk; and</li></ul><ul type="square"><li style="margin-left:-20px"> temporary mispricings caused by market overreactions.</li></ul>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /><b>Geographic Focus Risk</b> When the Fund focuses investments on a particular country, group of countries, or geographic region, its performance will be closely tied to the market, currency, economic, political, or regulatory conditions and developments in those countries or that region, and could be more volatile than the performance of more geographically diversified funds.<br /><br /><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
163
526
914
2000
0.2379
0.0995
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest <br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q ’09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">27.65%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q ’08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-28.86%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.0528
0.0085
0.0085
0.0085
0.0085
0.0085
0.0075
0.0075
0.0075
0.0075
0.0075
0.0075
0.0933
Highest Quarter:
2012-03-31
0
0
0
0.0025
0.005
0.0596
0
0
0
0
0.0025
0.005
0.2014
-0.2681
Lowest Quarter:
0.0028
0.0032
0.0047
0.0047
0.0052
2008-12-31
0.2699
-0.2726
0.1322
0.0021
0.003
0.0045
0.0045
0.005
-0.0028
0.0001
0.0001
0.0001
0.0001
0.0001
0.1213
<b>Portfolio Turnover </b>
0.0114
0.0118
0.0133
0.0158
0.0188
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.
0.0084
0.0096
0.0105
0.012
0.0175
0.0145
95
105
120
712
276
<b>FEES AND EXPENSES OF THE FUND </b>
296
328
375
1001
545
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
515
569
649
1312
939
0.0074
0.0086
0.0095
0.011
0.0135
0.0165
0.0454
1143
1259
2190
1432
2041
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Fixed Income Securities Risk </b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Frequent Trading/Portfolio Turnover Risk</b> Portfolio turnover generally involves some expense to the Fund and may result in the realization of taxable capital gains (including short-term gains). The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund’s performance.<br/><br/><b>Leveraging Risk</b> Instruments and transactions, including derivatives, that create leverage may cause the value of an investment in the Fund to be more volatile and all other risks will tend to be compounded.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>U.S. Government Securities Risk </b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<b>Principal Risks </b>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Indexing Risk</b> The Fund’s performance may not track the performance of the index exactly due to a number of factors, including fees and expenses of the Fund, and the Fund’s cash positions.<br/><br/><b>Industry Concentration Risk</b> The Fund may concentrate its assets in a particular industry or group of industries. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in that industry or group of industries than if the Fund invested more broadly.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
<b>Performance Information </b>
78
84
100
689
254
The Fund began operations July 26, 2012. Because the Fund is new, there is no table which shows how the Fund’s returns have deviated from the broad market. Performance history will be available for the Fund after it has been in operation for one calendar year.
0.1012
256
290
331
957
500
72
76
84
678
Highest Quarter:
2009-06-30
449
513
581
1245
871
0.141
224
237
262
896
Lowest Quarter:
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Shareholder Fees </b>(fees paid directly from your investment)
1008
1155
1298
2063
1913
2008-12-31
<b>INVESTMENTS, RISKS, AND PERFORMANCE</b><br/><br/><b>Principal Investment Strategies</b>
<b>Performance Information </b>
-0.1518
<b>Annual Fund Operating Expenses </b>(expenses that you pay each year as a percentage of the value of your investment)
The Fund seeks to achieve its objective by investing in both equity and debt securities, including money market securities and other short-term debt obligations, of issuers located around the world, including emerging markets, without limitation on the percentage of assets the Fund can invest in a particular type of security. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants, of issuers of any size. The Fund may buy debt securities of varying maturities, debt securities paying a fixed or floating rate of interest, and debt securities of any kind, including, by way of example, securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, by foreign governments or international agencies or supranational entities, or by domestic or foreign private issuers, mortgage-backed or other asset-backed securities, debt securities convertible into equity securities, inflation-indexed bonds, structured notes, and loan participations. Debt securities in which the Fund invests will primarily be investment grade, meaning that they will be rated at least Baa by Moody's or BBB by Standard & Poor's, or if unrated will be considered by the Fund's subadviser, BlackRock Investment Management, LLC ("BlackRock"), to be of comparable quality. The Fund may invest up to 35% of its total assets in below investment grade debt securities ("junk" or "high yield" bonds), corporate loans, and distressed securities. In the event that a security is downgraded after its purchase by BlackRock, BlackRock may continue to hold the security if BlackRock considers that doing so would be consistent with the Fund's investment objective. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/> The Fund seeks to reduce volatility by allocating its assets broadly across markets, industries, and issuers and without geographic or market capitalization limits. BlackRock uses the Fund's investment flexibility to create a portfolio of assets allocated between equity and debt securities. The Fund may but will not necessarily engage in foreign currency transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance the Fund's investment return or to attempt to protect against adverse changes in currency exchange rates. Use of derivatives by the Fund may create investment leverage.<br/><br/> Under normal circumstances, the Fund anticipates it will allocate a substantial amount (approximately 40% or more — unless market conditions are not deemed favorable by BlackRock, in which case the Fund would invest at least 30%) of its total assets in securities of (i) foreign government issuers, (ii) issuers organized or located outside the U.S., (iii) issuers which primarily trade in a market located outside the U.S., or (iv) issuers doing a substantial business outside the U.S., which the Fund considers to be companies that derive at least 50% of their revenue or profits from business outside the U.S. or have at least 50% of their sales or assets outside the U.S. The Fund will allocate its assets among various regions and countries, including the U.S. (but in no less than three different countries).<br/><br/> The Fund may invest a portion of its assets in securities related to real assets (like real estate or precious metals-related securities) such as stock, bonds, or convertible bonds issued by real estate investment trusts ("REITs") or companies that mine precious metals. The Fund may sell securities short for hedging or investment purposes. The Fund will not make a short sale, other than a short sale "against the box," if, after giving effect to such sale, the market value of all securities sold short exceeds 20% of its total assets.<br/><br/> The Fund may seek to provide exposure to the investment returns of real assets that trade in the commodity markets, including precious metals, agriculture, energy, livestock, or industrial metals. The Fund may obtain such exposure through, among other things, investments in issuers in commodities-related industries or in other investment vehicles that invest directly in commodities, commodities-related companies, or commodities-related investments, such as exchange-traded funds. The Fund may, but will not necessarily, invest in commodity-linked derivative instruments, including futures contracts, options, and swaps. In order to earn qualifying income under applicable tax rules from commodities and certain commodities-related investments, the Fund may invest up to 25% of its total assets in the MassMutual Select Cayman Global Allocation Fund I, Ltd. (the "Select Cayman Fund"), which was formed in the Cayman Islands and is a wholly-owned subsidiary of the Fund.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
0.38
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
390
411
455
1131
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
<b>Principal Risks </b>
871
918
1014
1806
You have the potential to make money by investing in the Fund, but you can also lose money.
Under normal circumstances, the Fund invests at least 80% (and, typically, substantially all) of its net assets in the equity securities of companies included within the S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index* ("Index"). The Index is a widely recognized, unmanaged index representative of common stocks of larger capitalized U.S. companies. As of January 31, 2013, the market capitalization range of companies included in the Index was $1.84 billion to $427.69 billion. If the securities represented in the Index were to become concentrated in any particular industry, the Fund's investments would likewise be concentrated in securities of issuers in that industry; the Index is not currently concentrated in any single industry.<br/><br/> The Fund is passively managed, which means it tries to duplicate the investment composition and performance of the Index by using computer programs and statistical procedures. The Fund's subadviser, Northern Trust Investments, Inc. ("NTI"), will buy and sell securities in response to changes in the Index. The Fund may use Index futures contracts, a type of derivative, to gain exposure to the Index in lieu of investing in cash, or to reduce its exposure to the Index while it sells the securities in its portfolio. Use of Index futures contracts by the Fund may create investment leverage. Because the Fund, unlike the Index, is subject to fees and transaction expenses, the Fund's returns are likely to be less than those of the Index. NTI expects that, under normal circumstances, the quarterly performance of the Fund, before fees and expenses, will track the performance of the Index within a 0.95 correlation coefficient.<br/><br/>* “Standard & Poor’s<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>,” “S&P<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>,” “Standard & Poor’s 500,” “500,” and “S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>” are trademarks of Standard & Poor’s Financial Services LLC (“S&P” or “Standard & Poor’s”) and have been licensed for use by MassMutual. The Fund is not sponsored, endorsed, sold, or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in the Fund.
0.0568
0.0492
0.0433
0.1248
0.1253
0.1243
0.16
0.0421
0.1187
0.116
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
0
0
0
0
0.0575
0
The Fund invests primarily in equity securities of U.S. companies that the Fund’s subadviser, Harris Associates L.P. (“Harris”), believes are undervalued. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stocks, rights, and warrants, of issuers of any size. The Fund typically invests most of its assets in equity securities of U.S. companies, but may invest in foreign securities and American Depositary Receipts (“ADRs”), including emerging market securities. The Fund generally will not invest more than 25% of its total assets in foreign securities, and will not invest more than 5% of its total assets in emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund is non-diversified, which means that it may hold larger positions in a smaller number of stocks than a diversified fund.<br/><br/>In selecting equity investments for the Fund, Harris uses a value investment philosophy. This investment philosophy is based upon the belief that, over time, a company’s stock price converges with the company’s intrinsic or true business value. Harris seeks to identify companies that it believes have discounted stock prices compared to the companies’ true business values. By “true business value,” Harris means an estimate of the price a knowledgeable buyer would pay to acquire the entire business. Harris usually sells a stock when the price approaches its estimated worth. This means that Harris sets specific “buy” and “sell” targets for each stock held by the Fund. Harris also monitors each holding and adjusts those price targets as warranted to reflect changes in a company’s fundamentals.
0.0209
0.0341
0.0342
0.036
0.0166
0.0595
0.028
0.036
176
545
0
0
0
0
0
0.01
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br /><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
0.0628
0.0697
0.0698
0.0712
0.071
0.0518
0.065
0.0731
939
2041
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Performance Information </b>
The Fund seeks to provide investment results approximating (before fees and expenses) the aggregate price and dividend performance of the securities included in the Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index*.<br/><br/>* The Fund is not promoted, sponsored, or endorsed by, nor in any way affiliated with Russell Investment Group (“Russell”). Russell is not responsible for and has not reviewed the Fund nor any associated literature or publications and Russell makes no representation or warranty, express or implied, as to their accuracy, or completeness, or otherwise. The Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index and Russell<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> are trademarks of the Frank Russell Company.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance (Russell 2000 Growth Index) and an additional index that provides a comparison for the Fund’s returns without regard to investment style. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
168
<table style="border-collapse: collapse; font-size: 8pt;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr style="font-size: 8pt;"><td valign="bottom">Highest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8.87%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-6.06%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
527
0
0
0
0
0
0.0575
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance.
25000
910
http://www.massmutual.com/funds
Other Expenses are based on estimated amounts for the current fiscal year of the Fund.
1-888-309-3539
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
You have the potential to make money by investing in the Fund, but you can also lose money.
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0
0
0
0.0575
0
0
0
0
0
0
0
1985
<b>Annual Performance<br/><br/>Class S Shares</b>
0
0
0
0
0.01
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
0.0009
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.1654
0.1851
0.1635
0.1611
0.1094
0.1621
0.1612
0.0918
0.1446
0.1851
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The Fund began operations July, 26, 2012. Because the Fund is new, there is no table which shows how the Fund’s returns have deviated from the broad market. Performance history will be available for the Fund after it has been in operation for one calendar year.
Highest Quarter:
-0.001
-0.001
-0.001
-0.001
-0.001
-0.001
2009-09-30
0.001
0.001
0.001
0.001
0.001
0.001
0.1889
Lowest Quarter:
0
0
0
0
0
0.0025
2008-12-31
0
0
0
0.0575
0.041
0.0388
0.0347
0.04
0.0379
0.0236
0.0326
0.0379
-0.218
0.0025
0.0035
0.005
0.006
0.0075
0.0065
0.145
0.1767
0.0397
0.0344
0.0318
0.0386
0.0369
0.0249
0.0317
0.0441
0
0
0
0
2011-12-07
2011-12-07
2006-08-29
2006-08-29
2006-08-29
2006-08-29
2006-08-29
2006-08-29
2006-08-29
2006-08-29
0.0001
0.0001
0.0001
0.0001
0.0001
0.0001
0
0
0
0.0575
0.0065
0.0065
0.0065
0.0065
0.0065
0.0036
0.0046
0.0061
0.0071
0.0086
0.0101
-0.0012
-0.0012
-0.0012
-0.0012
-0.0012
-0.0012
0
0
0
0.0025
0.005
0.0024
0.0034
0.0049
0.0059
0.0074
0.0089
154
0.0012
0.0021
0.0036
0.0036
0.0041
500
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q ’03,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">29.89%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q ’08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-27.57%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
871
0.0077
0.0086
0.0101
0.0126
0.0156
1913
116
120
135
726
291
-0.0002
-0.0002
-0.0002
-0.0002
-0.0002
88
98
113
706
0.4883
0.0075
0.0084
0.0099
0.0124
0.0154
0.1
362
375
421
1045
591
1009
383
336
304
0.012
628
649
729
1386
1016
1386
1432
1601
2345
2201
0.0687
0.1863
-0.4224
0.5372
-0.1202
0.2042
-0.3297
0.0313
539
593
673
1334
0.2183
0.1326
0.2836
4.17
-0.0391
1212
1328
1499
2251
76
88
97
112
705
268
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.194
25000
0
0
0
0
0
0.0575
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25.47%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-24.72%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
258
296
324
998
541
371
456
521
650
1313
940
570
0
0
0
0
0
0
1028
1169
1274
2202
1446
2054
You have the potential to make money by investing in the Fund, but you can also lose money.
0.009
0.009
0.009
0.009
0
0
0
0.0025
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance.
0.194
0.1924
0.1281
0.1915
0.1903
0.1192
0.1674
0.1805
0.0017
0.0027
0.0042
0.0042
1-888-309-3539
0.0376
0.036
0.0319
0.0365
0.0345
0.0202
0.0281
0.0355
0.0107
0.0117
0.0132
0.0157
http://www.massmutual.com/funds
191
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.0224
0.0201
0.0183
0.0213
0.0196
0.0085
0.0135
0.0238
591
0.0099
0.0109
0.0117
0.0142
1016
2201
77
86
101
694
257
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
244
272
320
950
491
0.001
0.001
0.001
0.001
0.001
0.001
0.1293
0.1293
0.0841
0.1278
0.1256
0.1098
0.1459
426
475
556
1225
848
952
1059
1234
2008
1855
0.0207
0.0205
0.0176
0.0202
0.0185
0.013
0.0349
0
0
0
0
0
0.0025
0.0812
0.073
0.0679
0.0807
0.0791
0.0732
0.098
0.0065
0.0065
0.0065
0.0065
0.0065
0.0065
<b>MassMutual Select Small Company Value Fund</b>
<b>INVESTMENT OBJECTIVE</b>
The Fund seeks to achieve long-term growth of capital by investing primarily in a diversified portfolio of equity securities of smaller companies.
0.0019
0.0029
0.0044
0.0054
0.0069
0.0059
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1Q ’12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">20.14%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q ’08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">-27.26%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>FEES AND EXPENSES OF THE FUND</b>
0
0
0
0
0.0025
0.005
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
0.0001
0.0001
0.0001
0.0001
0.0001
0.0001
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Example</b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
0.003
0.004
0.0055
0.0065
0.008
0.0095
0.0009
0.0029
0.0033
0.0048
0.0048
0.0053
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>Portfolio Turnover</b>
0.002
0.003
0.0045
0.0055
0.007
0.0085
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 34% of the average value of its portfolio.
<b>INVESTMENTS, RISKS, AND PERFORMANCE</b><br/><br/><b>Principal Investment Strategies </b>
The Fund invests primarily in equity securities that the subadvisers consider to be undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets in the securities of companies whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 2000<sup>®</sup> Index or the S&P SmallCap 600 Index (as of January 31, 2013, between $33 million and $5.26 billion). Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. The Fund typically invests most of its assets in equity securities of U.S. companies, but may invest in foreign securities and American Depositary Receipts ("ADRs"), including emerging market securities. The Fund generally will not invest more than 20% of its total assets in foreign securities. The Fund may invest in real estate investment trusts ("REITs") and exchange-traded funds. The Fund may at times invest a substantial portion of its assets in obligations of issuers in one or more market, economic, or industry sectors. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/>The Fund is managed by three subadvisers, Federated Clover Investment Advisors ("Federated Clover"), T. Rowe Price Associates, Inc. ("T. Rowe Price"), and EARNEST Partners, LLC ("Earnest Partners"), each being responsible for a portion of the portfolio, but not necessarily equally weighted. Each subadviser employs a value-based investment approach and may perform a number of analyses in considering whether to buy or sell a security for the Fund. Each of the subadvisers uses a combination of fundamental and quantitative analyses to identify undervalued companies. A subadviser may consider selling a security for the Fund if, for example, in its judgment, the security has reached its target price, has failed to perform as expected and the security's investment thesis is no longer intact, or other opportunities appear more attractive.
<b>Principal Risks</b>
0.0074
0.0094
0.0098
0.0113
0.0138
0.0168
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social, instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk </b>Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the underlying funds, including exchange-traded funds, in which it invests, including the risk that the underlying funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the underlying funds.<br/><br/><b>Sector Risk</b> The Fund may allocate more of its assets to certain economic, market, or industry sectors than to others. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in those sectors than if the Fund invested more broadly.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
168
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
<b>Performance Information</b>
541
940
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
-0.0015
-0.0015
-0.0015
-0.0015
-0.0015
-0.0015
<b>Annual Performance</b><br/><br/><b>Class S Shares </b>
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
-0.0008
-0.0008
-0.0015
-0.0015
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Non-Diversification Risk </b> Because the Fund may invest its assets in a more limited number of issuers than a diversified fund, a decline in the market value of a particular security may affect the Fund’s value more than if the Fund were diversified.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
2054
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0
0
0
0
0.0575
0
0.0059
0.0079
0.0083
0.0098
0.0123
0.0153
<b>Principal Risks </b>
-0.001
-0.001
-0.001
-0.001
-0.001
-0.001
Highest Quarter:
2009-06-30
0.0887
Lowest Quarter:
2008-09-30
-0.0606
<b>MassMutual Select Fundamental Growth Fund </b>
2006-03-31
2006-03-31
2006-03-31
2006-03-31
2006-03-31
2006-03-31
2006-03-31
2006-03-31
<b>Shareholder Fees</b> (fees paid directly from your investment)
0.1122
0.0584
0.1371
0.1122
0.1093
0.044
0.0955
0.1751
0.16
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br /><br /><b>Principal Investment Strategies </b>
0
0
0
0
0.2458
0.058
0
0
0
0.0575
0
0.0368
0
0
0
0
0.01
0.0874
0.1277
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">21.04%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-24.31%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
-0.4245
0.4306
<b>Performance Information </b>
0.1664
0.015
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
0.1843
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
0.4594
0.1191
0.0005
0.0005
0.0005
0.0005
0
0
0
0
0
0.01
0.0345
0.2028
The Fund invests primarily in domestic equity securities that the Fund's subadviser, Wellington Management Company, LLP ("Wellington Management"), believes offer the potential for long-term growth. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants, of issuers of any size. While most assets will be invested in equity securities of U.S. companies, the Fund may also invest up to 20% of its total assets in foreign securities and American Depositary Receipts ("ADRs"), including emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/>Wellington Management generally employs a bottom-up stock selection process that utilizes fundamental analysis to identify specific securities within industries or sectors for purchase or sale. Wellington Management seeks to identify diversified sources of return based on its assessment of individual companies against the context of broader market factors by evaluating and ranking each stock on a consistent set of growth, quality, and valuation criteria.<br/><br/> In pursuing its investment objective, Wellington Management has the discretion to purchase some securities that do not meet its normal investment criteria, as described above, when it believes there is an opportunity for substantial appreciation (such as, for example, Wellington Management believes a security could increase in value as a result of a change in management, an extraordinary corporate event, a new product introduction or innovation, or a favorable competitive development). The Fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
0
0
0
0.0025
0.0207
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /><b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /><b>Convertible Securities Risk </b>Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /><b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br /><br /><b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /><b>Management Risk </b>The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /><b>Market Risk </b>The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /><b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /><b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
<b>Performance Information</b>
March 31, 2014
0.005
0.005
0.005
0.005
0.005
-0.4282
<b>Annual Performance</b><br /><br /><b>Class S Shares </b>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q ’09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19.30%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q ’08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">-24.08%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.34
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectStrategicBondFund column period compact * ~</div>
0.632
0
0
0
0.0025
0.005
<b>Average Annual Total Returns</b><br />(for the periods ended December 31, 2012)
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.2181
101
111
119
711
25000
0.0009
0.0019
0.003
0.0034
0.004
-0.0023
March 31, 2014
The Fund seeks to provide investment results approximating (before fees and expenses) the aggregate price and dividend performance of the securities included in the MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index*. <br/><br/>* The Fund is not sponsored, endorsed, sold, or promoted by MSCI Inc. (“MSCI”), any of its affiliates, any of its information providers, or any other third party involved in, or related to, compiling, computing, or creating any MSCI index (collectively, the “MSCI Parties”). The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by MassMutual. None of the MSCI Parties makes any representation or warranty, express or implied, to the issuer or owners of the Fund or any other person or entity regarding the advisability of investing in funds generally or in the Fund particularly or the ability of any MSCI index to track corresponding stock market performance.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
332
364
404
1028
1.09
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.0001
0.0001
0.0001
0.0001
0.0001
0.1843
0.1838
0.1204
0.1823
0.1807
0.1107
0.1658
0.1526
0.16
You have the potential to make money by investing in the Fund, but you can also lose money.
1.04
0.001
0.0014
0.0022
0.0022
582
636
709
1368
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance (Russell 2000 Value Index) and an additional index that provides a comparison for the Fund’s returns without regard to investment style.
0.006
0.007
0.0081
0.011
0.0141
0.2117
Management Fees have been restated to reflect current fees.
1298
1413
1577
2323
0.0291
0.0289
0.0249
0.0284
0.0269
0.0125
0.0214
0.0312
0.0166
1-888-309-3539
0.3832
http://www.massmutual.com/funds
0.1798
You have the potential to make money by investing in the Fund, but you can also lose money.
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk </b>Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk </b>The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk </b>Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk </b>The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b>Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b>These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk </b>The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk </b>Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk </b>The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk </b>The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk </b>Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk </b>These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools </b>The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk </b>Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk </b>The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b>These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.0682
0.0678
0.0601
0.0671
0.0656
0.057
0.06
0.0752
0.071
0.1317
0.0755
1-888-309-3539
<b>INVESTMENT OBJECTIVE </b>
http://www.massmutual.com/funds
0.1632
0.007
0.0074
0.0082
0.0107
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
-0.41
<b>FEES AND EXPENSES OF THE FUND </b>
0.45
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
0.2803
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
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-0.0091
-0.021
-0.0087
-0.0098
-0.0115
-0.0255
-0.0169
0.0059
0.0166
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>Performance Information </b>
-0.0186
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
0.1451
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.0626
0.0546
0.0545
0.0616
0.0599
0.0511
0.0542
0.0738
0.071
Highest Quarter:
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
2009-09-30
0.2104
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectStrategicBondFund column period compact * ~</div>
Lowest Quarter:
2008-12-31
0.0055
0.0055
0.0055
0.0055
-0.2431
<b>Example </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectStrategicBondFund column period compact * ~</div>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Portfolio Turnover </b>
Highest Quarter:
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 57% of the average value of its portfolio.
2009-06-30
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectStrategicBondFundBarChart column period compact * ~</div>
0.193
Lowest Quarter:
2008-12-31
-0.2408
<b>Example </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectStrategicBondFund column period compact * ~</div>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
0.3937
<b>Portfolio Turnover </b>
0.2286
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the period July 25, 2012 (commencement of operations) through December 31, 2012, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
25000
0.0501
0.1497
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /> <b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /> <b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /> <b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /> <b>Indexing Risk</b> The Fund’s performance may not track the performance of the index exactly due to a number of factors, including fees and expenses of the Fund, and the Fund’s cash positions.<br /><br /> <b>Industry Concentration Risk</b> The Fund may concentrate its assets in a particular industry or group of industries. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in that industry or group of industries than if the Fund invested more broadly.<br /><br /> <b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /> <b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /> <b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
-0.0168
-0.2765
<b>Annual Performance </b><br/><br/><b>Class A Shares </b>
0.2745
60
81
85
100
693
256
0.2325
-0.0251
221
285
297
344
973
515
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectGrowthOpportunitiesFund column period compact * ~</div>
0.1477
397
505
527
608
1273
899
61
72
83
681
244
904
1141
1188
1361
2125
1975
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectGrowthOpportunitiesFund column period compact * ~</div>
192
224
259
905
446
335
390
450
1146
771
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/> <b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/> <b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/> <b>Commodities-Related Investments Risk</b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. The Fund’s investments in commodities and commodity-related instruments may bear on or be limited by the Fund’s intention to qualify as a “regulated investment company” for U.S. federal income tax purposes.<br/><br/> <b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/> <b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/> <b>Derivatives Risk </b>Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/> <b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/> <b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/> <b>Leveraging Risk </b>Instruments and transactions, including derivatives, that create leverage may cause the value of an investment in the Fund to be more volatile and all other risks will tend to be compounded.<br/><br/> <b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/> <b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations. <br/><br/> <b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/> <b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/> <b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/> <b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/> <b>REIT Risk </b>Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/> <b>Select Cayman Fund Risk</b> The Fund’s investments in the Select Cayman Fund expose the Fund to the risks associated with that entity’s investments, which are generally the risks of commodities-related investments. The Select Cayman Fund is not subject to the investor protections of the Investment Company Act of 1940, as amended (the “1940 Act”). Changes in U.S. or Cayman laws could result in increased expense or the inability of the Fund to operate as intended, which could adversely affect the investment returns of the Fund.<br/><br/> <b>Short Sales Risk</b> If the Fund sells a security short, it will make money if the security’s price goes down (in an amount greater than any transaction costs) and will lose money if the security’s price goes up. There is no limit on the amount of money the Fund may lose on a short sale. The Fund may not be able to close out a short sale when it might wish to do so, or may only do so at an unfavorable price.<br/><br/> <b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/> <b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/> <b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/> <b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
<b>Performance Information </b>
750
871
1002
1838
1691
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (Financial Times Stock Exchange (FTSE) World Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s fixed income investments and a hypothetical custom index which comprises the S&P 500, FTSE World (ex-U.S.), BofA Merrill Lynch Current 5-Year U.S. Treasury, and Citigroup Non-USD World Government Bond Indexes. Performance for Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
Under normal circumstances, the Fund invests at least 80% (and, typically, substantially all) of its net assets in the equity securities of companies included in the MSCI EAFE Index (“Index”), in weightings that approximate the relative composition of the securities contained in the Index, and in MSCI EAFE Index futures contracts. The Index is a widely recognized, unmanaged index representative of equity securities in developed markets, excluding the U.S. and Canada. As of January 31, 2013, the market capitalization range of companies included in the Index was $1.38 billion to $229.35 billion, and the Index consisted of the following 22 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. If the securities represented in the Index were to become concentrated in any particular industry, the Fund’s investments would likewise be concentrated in securities of issuers in that industry; the Index is not currently concentrated in any single industry.<br/><br/>The Fund is passively managed, which means it tries to duplicate the investment composition and performance of the Index by using computer programs and statistical procedures. The Fund’s subadviser, Northern Trust Investments, Inc. (“NTI”), will buy and sell securities in response to changes in the Index. The Fund may use Index futures contracts, a type of derivative, to gain exposure to the Index in lieu of investing in cash, or to reduce its exposure to the Index while it sells the securities in its portfolio. Use of Index futures contracts by the Fund may create investment leverage. Because the Fund, unlike the Index, is subject to fees and transaction expenses, the Fund’s returns are likely to be less than those of the Index.<br/><br/>Because the proportion of assets allocated to each country will approximate the relative country weights in the Index, more than 25% of the Fund’s assets may be invested in a single country (such as the United Kingdom and Japan). This may make the Fund’s performance more dependent upon the performance of a single country than if the Fund allocated its assets among issuers in a larger number of countries.<br/><br/>NTI expects that, under normal circumstances, the quarterly performance of the Fund, before fees and expenses, will track the performance of the Index within a 0.95 correlation coefficient.
0.0248
0.0152
0.0204
0.0914
0.0921
0.0901
0.0421
0.16
0.1187
0.0778
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk </b>The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk</b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk </b>The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b>These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
0.0347
0.0482
0.0481
0.0498
0.0595
0.0166
0.028
0.049
<b>Annual Performance</b><br/><br/><b>Class S Shares</b>
<b>Principal Risks </b>
0.0886
0.0073
0.0073
0.0073
0.0073
0.0073
0.0073
-0.5257
0.052
0.0588
0.0588
0.0603
0.0518
0.071
0.065
0.0629
0.407
0.0539
-0.1684
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0.1729
<b>Shareholder Fees</b> (fees paid directly from your investment)
185
589
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund’s inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the “Predecessor Account”); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge. As a mutual fund registered under the Investment Company Act of 1940, as amended (the “1940 Act”), the Fund is subject to certain requirements and restrictions under the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), to which the Predecessor Account was not subject. If the Predecessor Account had been subject to those requirements and restrictions, it might have achieved less favorable investment performance. Because of the difference in tax treatments of the Predecessor Account and the Fund, after-tax performance information is not presented for the five-year or ten-year periods. Past performance is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
1019
2216
0
0
0
0.0575
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
0
0
0
0
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectGrowthOpportunitiesFund column period compact * ~</div>
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
144
0.1729
0.1704
0.1217
0.1712
0.1661
0.1009
0.1769
<b>Annual Performance</b><br/><br/><b>Class S Shares</b>
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance.
446
771
-0.0726
-0.0737
-0.0587
-0.0742
-0.0753
-0.088
-0.0434
1691
-0.046
-0.0485
-0.0373
-0.0475
-0.0486
-0.0598
-0.0245
0
0
0
0
0.005
0.0025
91
110
114
129
721
285
0.6066
<b>INVESTMENT OBJECTIVE </b>
301
361
373
420
1044
589
This Fund seeks growth of capital over the long term.
0.0225
<b>FEES AND EXPENSES OF THE FUND </b>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">27.48%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-26.95%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
529
631
652
732
1389
1019
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
-0.0067
<b>Shareholder Fees</b> (fees paid directly from your investment)
0.1544
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
1182
1402
1447
1617
2360
2216
0.046
<b>Portfolio Turnover </b>
<b>Performance Information </b>
-0.4307
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 20% of the average value of its portfolio.
0.314
The Fund began operations July 25, 2012. Because the Fund is new, there is no table which shows how the Fund’s returns have deviated from the broad market. Performance history will be available for the Fund after it has been in operation for one calendar year.
<b>Example </b>
156
0.3364
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
-0.019
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
Under normal circumstances, the Fund invests at least 80% of net assets in the common stocks of large- and medium-sized blue chip growth companies. The Fund's subadviser, T. Rowe Price Associates, Inc. ("T. Rowe Price"), currently defines blue chip growth companies to mean firms that, in its view, are well-established in their industries and have the potential for above-average earnings growth. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. While most assets will be invested in equity securities of U.S. companies, the Fund may also invest up to 20% of its total assets in foreign securities and American Depositary Receipts ("ADRs"), including emerging market securities. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/> In selecting securities, T. Rowe Price generally seeks to identify companies with a leading market position, seasoned management, and strong financial fundamentals. T. Rowe Price believes that solid company fundamentals (with an emphasis on strong growth in earnings per share or operating cash flow) combined with a positive industry outlook may potentially reward investors with strong investment performance. It is anticipated that some of the companies targeted will have good prospects for dividend growth.<br/><br/> In pursuing its investment objective, T. Rowe Price has the discretion to purchase some securities that do not meet its normal investment criteria, as described above, when it believes there is an opportunity for substantial appreciation (such as, for example, T. Rowe Price believes a security could increase in value as a result of a change in management, an extraordinary corporate event, a new product introduction or innovation, or a favorable competitive development). The Fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
0.1293
<b>Principal Risks </b>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social, instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk </b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
<b>Performance Information </b>
515
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (Russell 1000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Growth Index) and an additional index that provides a comparison for the Fund’s returns without regard to investment style. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
20
31
46
56
72
657
<b><a name="pro458123_23a"></a>MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index Fund </b>
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
899
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1Q '12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">18.59%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-24.74%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
1975
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
86
118
166
198
245
851
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Highest Quarter:
0.1244
2009-09-30
0.0651
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.2343
Lowest Quarter:
25000
March 31, 2014
0.2
Other Expenses are based on estimated amounts for the current fiscal year of the Fund.
-0.2464
0.1779
0.1739
0.121
0.1774
0.1753
0.1049
0.1588
0.1751
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectSmallCompanyGrowthFund column period compact * ~</div>
0.0005
0.0005
0.0005
0.0005
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
-0.0088
-0.0126
-0.0083
-0.0097
-0.0108
-0.0254
-0.017
0.0059
25000
You have the potential to make money by investing in the Fund, but you can also lose money.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectSmallCompanyGrowthFund column period compact * ~</div>
0
0
0
0.0025
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectFundamentalGrowthFund column period compact * ~</div>
0.32
0.036
0.0309
0.0306
0.035
0.0339
0.0234
0.0276
0.0499
0.0022
0.0026
0.0034
0.0034
0.0072
0.0072
0.0072
0.0072
0.0313
0.0099
0.0103
0.0111
0.0136
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectSmallCompanyGrowthFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectFundamentalGrowthFund column period compact * ~</div>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15.92%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-22.13%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
-0.0008
-0.0008
-0.0008
-0.0008
0
0
0
0
2006-12-14
2006-12-14
2006-12-14
2006-12-14
2006-12-14
2006-12-14
2006-12-14
0.0091
0.0095
0.0103
0.0128
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectFundamentalGrowthFund column period compact * ~</div>
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectSmallCompanyGrowthFund column period compact * ~</div>
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
25000
You have the potential to make money by investing in the Fund, but you can also lose money.
You have the potential to make money by investing in the Fund, but you can also lose money.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (Russell 1000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Growth Index) and an additional index that provides a comparison for the Fund’s returns without regard to investment style.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectFundamentalGrowthFund column period compact * ~</div>
You have the potential to make money by investing in the Fund, but you can also lose money.
1-888-309-3539
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectSmallCompanyGrowthFundBarChart column period compact * ~</div>
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance.
0.0675
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
1-888-309-3539
0.0615
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectFundamentalGrowthFundBarChart column period compact * ~</div>
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
-0.1567
The Fund began operations July 25, 2012. Because the Fund is new, there is no table which shows how the Fund’s returns have deviated from the broad market. Performance history will be available for the Fund after it has been in operation for one calendar year.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectSmallCompanyGrowthFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectFundamentalGrowthFund column period compact * ~</div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
0.2059
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.1055
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance (Russell 2000 Growth Index) and an additional index that provides a comparison for the Fund’s returns without regard to investment style.
0.0294
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMMMSCIEAFEInternationalIndexFund column period compact * ~</div>
0.0873
Highest Quarter:
<b>INVESTMENT OBJECTIVE </b>
This Fund seeks both capital growth and income.
2012-03-31
<b>FEES AND EXPENSES OF THE FUND </b>
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMMMSCIEAFEInternationalIndexFund column period compact * ~</div>
0.0085
0.0085
0.0085
0.0085
0.0085
0.0085
0.1859
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
1-888-309-3539
0.2997
Lowest Quarter:
http://www.massmutual.com/funds
0.098
0
0
0
0
0.0025
0.005
0.0014
0.0018
0.0026
0.0026
2008-12-31
0.0757
-0.2474
0.0088
0.0092
0.01
0.0125
0.2106
<b>Shareholder Fees</b> (fees paid directly from your investment)
0.0009
0.0028
0.0032
0.0047
0.0047
0.0052
0.085
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
-0.3398
<b>Example </b>
0.0003
0.0003
0.0003
0.0003
0.0003
0.0003
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
0.2417
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.1391
0.0097
0.0116
0.012
0.0135
0.016
0.019
0.0592
-0.0229
0.0043
-0.0008
-0.0008
-0.0008
-0.0008
-0.0008
-0.0008
0.1649
0.07
0.0089
0.0108
0.0112
0.0127
0.0152
0.0182
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '10,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8.99%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '11,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-11.11%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>MassMutual Select Blue Chip Growth Fund </b>
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 107% of the average value of its portfolio.
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectGrowthOpportunitiesFund column period compact * ~</div>
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
0.0012
0.0027
0.0037
0.0052
0.0052
0.0057
Highest Quarter:
2003-06-30
0.1718
Lowest Quarter:
1.05
2008-12-31
Other Expenses are based on estimated amounts for the current fiscal year of the Fund.
-0.194
0.0659
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.2208
-0.0239
25000
-0.4073
0.201
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
0.1256
You have the potential to make money by investing in the Fund, but you can also lose money.
0.0137
0.1779
The Fund began operations July 26, 2012. Because the Fund is new, there is no table which shows how the Fund’s returns have deviated from the broad market. Performance history will be available for the Fund after it has been in operation for one calendar year.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
You have the potential to make money by investing in the Fund, but you can also lose money.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance.
1-888-309-3539
0.1675
0.1751
0.1649
0.1595
0.1136
0.1635
0.1616
0.0918
0.1455
0.1751
http://www.massmutual.com/funds
2004-10-15
2004-10-15
2004-10-15
2004-10-15
2004-10-15
2004-10-15
2004-10-15
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
0.0123
0.009
0.0097
0.0119
0.0104
-0.0041
0.0047
0.0059
93
97
105
698
307
320
974
345
0.0792
0.0726
0.0688
0.0787
0.077
0.0681
0.0712
0.0738
539
561
604
1270
1206
1252
1345
2110
0.0981
0.1095
Highest Quarter:
2003-06-30
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.2989
Lowest Quarter:
2008-12-31
2010-11-15
2010-11-15
-0.2757
March 31, 2014
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.58
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0
0
0
0
0.0575
0
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
25000
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
You have the potential to make money by investing in the Fund, but you can also lose money.
0
0
0
0
0
0.01
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance.
<b>Principal Risks </b>
0.3064
0.1234
0.0693
0.1074
0.0605
-0.3589
0.3216
0.1524
-0.0323
0.1488
25000
0.1013
0.0976
0.0694
0.101
0.0986
0.0327
0.1696
0.0165
0.1081
0.0467
0.0422
0.0388
0.046
0.0453
0.0217
0.0773
0.0252
0.0709
0
0
0
0
0.0575
0
0
0
0
0
0
0.01
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectSmallCapValueEquityFund column period compact * ~</div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectSmallCapValueEquityFund column period compact * ~</div>
0.01
0.01
0.01
0.01
0.01
0.01
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectSmallCapValueEquityFund column period compact * ~</div>
0
0
0
0
0.0025
0.005
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectSmallCapValueEquityFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectFundamentalValueFund column period compact * ~</div>
0.0017
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectSmallCapValueEquityFundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectFundamentalValueFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectSmallCapValueEquityFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectFundamentalValueFund column period compact * ~</div>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">17.97%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-21.15%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.1003
-0.0407
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectFundamentalValueFund column period compact * ~</div>
0.1013
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectFundamentalValueFundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectFundamentalValueFund column period compact * ~</div>
0.03
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectDiversifiedValueFund column period compact * ~</div>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectDiversifiedValueFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectDiversifiedValueFund column period compact * ~</div>
2009-12-01
2009-12-01
2009-12-01
2009-12-01
2009-12-01
2009-12-01
2009-12-01
2009-12-01
2009-12-01
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectDiversifiedValueFund column period compact * ~</div>
0.2128
0.1642
You have the potential to make money by investing in the Fund, but you can also lose money.
0.1159
0.1087
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectDiversifiedValueFundBarChart column period compact * ~</div>
1-888-309-3539
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectDiversifiedValueFund column period compact * ~</div>
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.2117
0.1943
0.155
0.2103
0.2082
0.1362
0.1913
0.1642
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets directly or indirectly in one or more commodities or commodities-related investments or may themselves invest using an asset allocation strategy among equity, fixed income, money market, commodity, and other investments. The Fund has a moderate asset allocation strategy (relative to the other risk-based MassMutual RetireSMART Funds), with approximately 60% of its assets invested in equity and similar funds and approximately 40% invested in fixed income funds, including money market funds. In its periodic determination of the Fund’s asset allocation to Underlying Funds, MassMutual will attempt to select Underlying Funds that it expects will provide an aggregate exposure to “junk” or “high yield” bonds (securities rated below investment grade by Moody’s or Standard & Poor’s, or unrated securities determined to be of comparable quality by the applicable adviser or subadviser), including securities in default, of not more than 10% of the Fund’s assets (although the Fund’s exposure may from time to time exceed that percentage). The Fund is designed for use as part of an overall investment strategy by an investor who is saving for, or is already in, retirement.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/> <div style="TEXT-ALIGN: center; WIDTH: 100%"><div style="width: 100%;"><div style="text-align: left;"><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>58.8%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified Value (Brandywine Global/Loomis Sayles)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Value (Wellington Management) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Large Cap Value (Columbia Management/Huber Capital Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Focused Value (Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Growth (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Blue Chip Growth (T. Rowe Price)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Growth Opportunities (Sands Capital/Delaware Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid-Cap Value (NFJ/Systematic)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Value Equity (Wellington Management/Barrow Hanley)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Small Company Value (Federated Clover/T. Rowe Price/Earnest Partners)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> MM S&P<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Mid Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table></div></div></div><div style="TEXT-ALIGN: center; WIDTH: 100%"><div style="width: 100%;"><div style="text-align: left;"><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr bgcolor="#cceeff"> <td valign="top"> MM Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Small Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid Cap Growth Equity II (T. Rowe Price/Frontier)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Growth Equity (Wellington Management/Waddell & Reed/Timberline)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Small Company Growth (The Boston Company/Eagle)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Real Estate (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"><b>—International/Global Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified International (J.P. Morgan)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Overseas (J.P. Morgan/MFS/Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier International Equity (OFI Institutional)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Focused International (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Strategic Emerging Markets (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Developing Markets Fund<br/>(OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>38.6%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Money Market (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Short-Duration Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Inflation-Protected and Income (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Core Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select PIMCO Total Return (PIMCO)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Strategic Bond (Western Asset)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier High Yield (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier International Bond (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer International Bond Fund<br/>(OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>2.9%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Commodity Strategy Total Return (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table></div></div></div> <br/>Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%.<br/><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.
0.0085
0.01
0.011
0.0657
0.0125
0.0593
0.015
0.0553
0.018
0.0647
0.0629
0.0478
0.0571
0.0192
0.1104
0.0988
0.0944
0.1093
0.1076
0.0983
0.1015
0.0752
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectGrowthOpportunitiesFundBarChart column period compact * ~</div>
1-888-309-3539
0.0045
0.005
0.0055
0.0055
0.006
http://www.massmutual.com/funds
0.0117
0.0145
0.015
0.0155
0.018
0.021
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
-0.0031
-0.0031
-0.0031
-0.0031
-0.0031
-0.0031
0.0086
0.0114
0.0119
0.0124
0.0149
0.0179
Performance for Class A shares of the Fund reflects any applicable sales charge.
This Fund seeks maximum total return, consistent with preservation of capital and prudent investment management.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectSmallCompanyValueFund column period compact * ~</div>
Highest Quarter:
2009-06-30
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectSmallCompanyValueFund column period compact * ~</div>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectSmallCompanyValueFund column period compact * ~</div>
0.2765
0
0
0
0
0.0575
0
Lowest Quarter:
2008-12-31
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectSmallCompanyValueFund column period compact * ~</div>
March 31, 2014
0.36
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
-0.2886
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMMRussell2000SmallCapIndexFund column period compact * ~</div>
0
0
0
0
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMMMSCIEAFEInternationalIndexFund column period compact * ~</div>
0
0.01
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectSmallCompanyValueFundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectGrowthOpportunitiesFund column period compact * ~</div>
25
35
50
60
76
661
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectSmallCompanyValueFund column period compact * ~</div>
You have the potential to make money by investing in the Fund, but you can also lose money.
104
136
183
215
262
867
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMMRussell2000SmallCapIndexFund column period compact * ~</div>
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
2010-11-15
2010-11-15
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectDiversifiedInternationalFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectDiversifiedInternationalFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectDiversifiedInternationalFund column period compact * ~</div>
0.3024
0.1211
0.0957
0.1471
0.0468
0.001
0.001
0.001
0.001
0.001
0.001
0.001
-0.3973
0
0
0
0
0
0.0025
0.005
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectDiversifiedInternationalFundBarChart column period compact * ~</div>
0.0008
0.0016
0.0037
0.004
0.0055
0.006
0.0055
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
2004-10-15
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectDiversifiedInternationalFund column period compact * ~</div>
0.0018
0.0026
0.0047
0.0065
0.005
0.009
0.012
Highest Quarter:
2003-06-30
0.1973
-0.001
-0.0005
-0.0005
-0.0005
-0.0015
-0.0025
-0.0025
0.3148
Lowest Quarter:
0.1308
0.0082
0.0082
0.0082
0.0082
0.0082
0.0082
2008-12-31
-0.0415
-0.2627
0.1122
0
0
0
0
0.0025
0.005
0.0008
0.0021
0.0042
0.005
0.0045
0.0065
0.0095
0.001
0.002
0.0034
0.0049
0.0049
0.0054
0.0001
0.0001
0.0001
0.0001
0.0001
0.0001
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
The Fund invests primarily in large-capitalization companies that the Fund's subadvisers, Columbia Management Investment Advisers, LLC ("Columbia Management") and Huber Capital Management, LLC ("Huber Capital Management"), believe are undervalued. Under normal circumstances, the Fund invests at least 80% of its net assets in the stocks of large-cap companies. The subadvisers currently define "large-cap" companies as those whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 1000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index (as of January 31, 2013, between $317 million and $427.69 billion). The Fund has the flexibility to invest in companies of any size and invest in non-equity securities. While most assets typically will be invested in equity securities of U.S. companies, the Fund may invest up to 20% of its total assets in foreign securities and American Depositary Receipts ("ADRs"), including emerging market securities. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. The Fund may at times invest a substantial portion of its assets in obligations of issuers in one or more market, economic, or industry sectors. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/> The Fund may use equity-linked notes, a type of derivative, for hedging purposes, to earn additional income, or as a substitute for direct investments. Use of equity-linked notes by the Fund may create investment leverage.<br/><br/> In pursuit of the Fund's objectives, Columbia Management chooses investments by applying quantitative screens to determine yield potential. Columbia Management conducts fundamental research on, and seeks to purchase potentially attractive securities based on, its analysis of various factors, which may include current yield, dividend growth capability and history, balance sheet strength, earnings per share and free cash flow sustainability and dividend payout ratio, as well as other, statistical measures. Preference is generally given to higher dividend paying companies. Columbia Management typically uses the S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index for dividend yield comparison purposes.<br/><br/> In evaluating whether to sell a security, Columbia Management considers, among other factors, whether there is deterioration in value of the business relative to market price, or a more attractive opportunity has been identified.<br/><br/> Huber Capital Management employs a value investing style, investing in stocks which, in Huber Capital Management's opinion, trade at a significant discount to the present value of future cash flows. Huber Capital Management attempts to identify out-of-favor stocks that represent solid fundamental value. Huber Capital Management identifies these investment opportunities by employing a disciplined, bottom-up investment process that emphasizes internally generated fundamental research. The process includes an initial review, in-depth analysis, and employment of Huber Capital Management's proprietary valuation methodology.<br/><br/> Huber Capital Management's decision to sell portfolio securities is based on valuation, risk, and portfolio guidelines. As individual stocks approach their intrinsic value or established target price and decline in their relative attractiveness, they become candidates for sale. Other sell decisions may occur because of deterioration in the fundamentals that supported the initial investment. Proceeds from sales are reinvested in companies that are more attractively valued based on the purchase disciplines.
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /> <b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /> <b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /> <b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /> <b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /> <b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /> <b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /> <b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /> <b>Sector Risk</b> The Fund may allocate more of its assets to certain economic, market, or industry sectors than to others. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in those sectors than if the Fund invested more broadly.<br /><br /> <b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /> <b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /> <b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">21.10%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-25.05%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>Average Annual Total Returns </b> <br/>(for the periods ended December 31, 2012)
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After- tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /><b>Derivatives Risk </b>Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /><b>Geographic Focus Risk</b> When the Fund focuses investments on a particular country, group of countries, or geographic region, its performance will be closely tied to the market, currency, economic, political, or regulatory conditions and developments in those countries or that region, and could be more volatile than the performance of more geographically diversified funds.<br /><br /><b>Indexing Risk</b> The Fund’s performance may not track the performance of the index exactly due to a number of factors, including fees and expenses of the Fund, and the Fund’s cash positions.<br /><br /><b>Industry Concentration Risk</b> The Fund may concentrate its assets in a particular industry or group of industries. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in that industry or group of industries than if the Fund invested more broadly.<br /><br /><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/> <b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Fixed Income Securities Risk</b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk. <br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Frequent Trading/Portfolio Turnover Risk</b> Portfolio turnover generally involves some expense to the Fund and may result in the realization of taxable capital gains (including short-term gains). The trading costs and tax effects associated with portfolio turnover may adversely affect the Fund’s performance.<br/><br/><b>Leveraging Risk</b> Instruments and transactions, including derivatives and reverse repurchase agreement transactions, that create leverage may cause the value of an investment in the Fund to be more volatile and all other risks will tend to be compounded.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk</b> Investments in mortgage-and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset- backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Reverse Repurchase Agreement Transaction Risk </b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Short Sales Risk</b> If the Fund sells a security short, it will make money if the security’s price goes down (in an amount greater than any transaction costs) and will lose money if the security’s price goes up. There is no limit on the amount of money the Fund may lose on a short sale. The Fund may not be able to close out a short sale when it might wish to do so, or may only do so at an unfavorable price.<br/><br/><b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities. <br/><br/><b> Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
0.06
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q ’12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.36%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q ’11,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-2.16%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class Z only. After-tax returns for other classes will vary.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
-0.0007
-0.0007
-0.0007
-0.0007
-0.0007
0.1471
0.1581
0.1451
0.1312
0.1127
0.1447
0.1433
0.0749
0.1275
0.1581
88
116
121
126
718
282
341
428
444
459
1080
628
After-tax returns are shown for Class Z only. After-tax returns for other classes will vary.
0.0323
0.0344
0.0253
0.04
0.0416
0.0352
0.0354
0.0424
614
763
789
815
1467
1100
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.1102
0.1027
0.0971
0.1092
0.1075
0.0982
0.1015
0.1032
1393
1709
1764
1819
2545
2407
0.0941
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
March 31, 2014
1-888-309-3539
http://www.massmutual.com/funds
0.3
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.0999
2010-11-15
2010-11-15
-0.0007
<b>INVESTMENT OBJECTIVE </b>
This Fund seeks growth of capital over the long-term.
0.0086
0.0096
0.011
0.0125
0.015
0.018
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>Shareholder Fees</b> (fees paid directly from your investment)
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
0.1504
0.1805
0.1635
0.1477
0.1057
0.1402
0.1476
0.1457
0.0771
0.129
0.1805
0.1635
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0.37
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.0492
0.0446
0.0416
0.0488
0.0473
0.0323
0.0413
0.0355
0.0356
<b>Portfolio Turnover </b>
0.0996
0.0916
0.0869
0.099
0.0974
0.0882
0.0913
0.095
0.0972
The bar chart shows changes in the Fund’s performance from year to year for Class Z shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance.
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 85% of the average value of its portfolio.
25000
0.098
0.0931
0.0966
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
2010-11-15
2010-11-15
2010-11-15
<b>INVESTMENT OBJECTIVE </b>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
<b>Principal Risks </b>
You have the potential to make money by investing in the Fund, but you can also lose money.
<b>Example </b>
0.3498
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
182
1-888-309-3539
0.1344
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem you shares:
http://www.massmutual.com/funds
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies </b>
628
1100
Past performance is not necessarily an indication of how the Fund will perform in the future.
The Fund invests primarily in equity securities of mid-capitalization companies that the subadvisers believe are undervalued. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. Under normal circumstances, the Fund invests at least 80% of its net assets in the stocks of mid-cap companies. The subadvisers currently define “mid-cap” companies as those whose market capitalizations at the time of purchase are between $500 million and $10 billion or fall within the market capitalization range of companies included in the Russell Midcap<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Value Index (as of January 31, 2013, between $317 million and $25.16 billion). The Fund typically invests most of its assets in equity securities of U.S. companies, but may gain exposure to non-U.S. issuers through the purchase of American Depositary Receipts (“ADRs”). The Fund may also invest a portion of its assets in real estate investment trusts (“REITs”). The Fund may hold a portion of its assets in cash or cash equivalents. <br /><br /> The Fund is managed by two subadvisers, NFJ Investment Group LLC (“NFJ”) and Systematic Financial Management, L.P. (“Systematic”), each being responsible for a portion of the portfolio, but not necessarily equally weighted. NFJ uses a value investing style focusing on companies whose stocks the portfolio managers believe have low valuations. The portfolio managers classify the Fund selection universe by industry and then identify what they believe to be undervalued stocks in each industry to determine potential holdings for the Fund representing a broad range of industry groups. The portfolio managers then use quantitative factors to screen the Fund’s initial selection. To further narrow the universe, the portfolio managers analyze factors such as price momentum (i.e., changes in stock price relative to changes in overall market prices), and earnings estimate revisions (i.e., changes in analysts’ earnings per share estimates). After the research list is generated through the quantitative screens, the portfolio managers then conduct traditional fundamental research on any potential investment candidates. In selecting securities for the Fund, Systematic utilizes a two-prong, bottom-up investment strategy that unifies quantitative screening and fundamental research. Systematic’s security selection process generally favors companies with attractive valuation and positive earnings dynamics, and may consider, among other things, a company’s financial characteristics, market position, industry position, and management. <br /><br /> NFJ considers selling a stock when any of the factors leading to its purchase materially changes or when a more attractive candidate is identified, including when an alternative stock with strong fundamentals demonstrates a lower price-to-earnings ratio, a higher dividend yield, or other favorable qualitative metrics. Systematic generally may consider selling a stock for the Fund if, for example, in its judgment, the stock’s price has appreciated to a level that Systematic considers to be the stock’s fair value, its analysis leads Systematic to anticipate downward earnings revisions for a company, a company experiences an unexpected earnings announcement, or Systematic identifies other investment opportunities that it believes to be more attractive.
2407
0.0779
8
22
43
51
46
638
197
<b>Principal Risks </b>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br /><br /> <b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /> <b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /> <b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /> <b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /> <b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /> <b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /> <b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br /><br /> <b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely- held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /> <b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /> <b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
0.1154
You have the potential to make money by investing in the Fund, but you can also lose money.
48
79
146
155
193
822
356
You have the potential to make money by investing in the Fund, but you can also lose money.
0.0578
Highest Quarter:
2009-06-30
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">23.43%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td><td valign="bottom" nowrap="nowrap" align="right">-24.64%</td><td valign="bottom" nowrap="nowrap"> </td></tr></table>
91
141
258
275
347
1022
636
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectBlueChipGrowthFundBarChart column period compact * ~</div>
0.0991
220
326
587
623
1597
796
1432
Lowest Quarter:
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception (or 1 year and since inception for Class Z shares), compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
2008-12-31
-0.0873
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
-0.4037
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">18.59%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-22.99%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.3087
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
0.1798
25000
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.3408
0.1173
0.1565
0.2777
5.01
0.0421
-0.0464
0.1601
Highest Quarter:
2012-09-30
0.0336
Lowest Quarter:
2011-09-30
-0.0216
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMMSPMidCapIndexFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMMSPMidCapIndexFund column period compact * ~</div>
0
0
0
0
0.01
0
March 31, 2014
0.85
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMMSPMidCapIndexFund column period compact * ~</div>
25000
0.0934
0.087
0.069
0.1642
0.1646
0.1638
0.16
0.0421
0.1187
0.1614
You have the potential to make money by investing in the Fund, but you can also lose money.
0.0093
0.0103
0.0117
0.0132
0.0157
0.0187
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception (or 1 year and since inception for Class Z shares), compare with those of a broad measure of market performance.
-0.0015
-0.0015
-0.0015
-0.0015
-0.0015
-0.0015
0.0827
0.0764
0.062
0.1521
0.1517
0.1507
0.16
0.0421
0.1187
0.1467
0.007
0.0085
0.0095
0.011
0.0135
0.0165
-0.0073
0.0054
0.0055
0.0065
0.0166
0.0595
0.028
0.0119
0.0046
0.0174
0.0174
0.0189
0.0166
0.0595
0.028
0.0202
1-888-309-3539
http://www.massmutual.com/funds
0.0781
0.065
0.0518
0.071
0.074
0.0722
0.0723
0.065
0.0718
0.0719
0.0736
0.071
0.0518
0.065
0.0811
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectBlueChipGrowthFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectBlueChipGrowthFund column period compact * ~</div>
0.0006
0.0021
0.0033
0.0041
0.0026
0.0026
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectBlueChipGrowthFund column period compact * ~</div>
0.0041
0.0056
0.0068
0.0076
0.0086
0.0111
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectBlueChipGrowthFund column period compact * ~</div>
0
0
0
0.0575
0
0
0
0
0
0.01
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMARTModerateFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectBlueChipGrowthFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMARTModerateFund column period compact * ~</div>
88
98
112
127
719
283
0
0
0
0.0575
0
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMARTModerateFund column period compact * ~</div>
289
321
365
411
1036
581
0
0
0
0
0.01
508
562
637
717
1375
1004
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMARTModerateFundBarChart column period compact * ~</div>
1253
1414
1137
1584
2329
2185
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMARTModerateFund column period compact * ~</div>
Highest Quarter:
2009-09-30
0.1859
Lowest Quarter:
2008-12-31
0.0005
0.0005
0.0005
0.0005
0.0005
0.0654
-0.2299
0
0
0
0.0025
0.005
0.0021
0.003
0.004
0.004
0.0045
0.006
0.006
0.006
0.006
0.006
0.0241
0.0974
0.0086
0.0095
0.0105
0.013
0.016
0.0974
0.0839
0.0638
0.0962
0.0943
0.0935
0.0406
0.0802
0.0421
0.0611
0.0487
0.0484
0.0594
0.0584
0.0571
0.0362
0.0539
0.0532
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
0.005
0.0019
0.0026
0.0036
0.0036
0.0041
0.0058
0.0058
0.0058
0.0058
0.0058
0.0082
0.0089
0.0099
0.0124
0.0154
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMARTModerateGrowthFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMARTModerateGrowthFund column period compact * ~</div>
0.4411
0.1379
0.1123
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMARTModerateGrowthFund column period compact * ~</div>
0.0949
0.1014
-0.3971
0.0005
0.3935
0.2311
-0.0547
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMARTModerateGrowthFundBarChart column period compact * ~</div>
0.1341
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMARTModerateGrowthFund column period compact * ~</div>
88
97
107
700
263
274
303
334
963
505
477
525
579
1247
871
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectMidCapGrowthEquityIIFund column period compact * ~</div>
1061
1166
1283
2053
1900
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectMidCapGrowthEquityIIFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectMidCapGrowthEquityIIFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectMidCapGrowthEquityIIFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectMidCapGrowthEquityIIFundBarChart column period compact * ~</div>
2010-07-06
2010-07-06
2010-07-06
2010-07-06
2010-07-06
2010-07-06
2010-07-06
2010-07-06
2010-07-06
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectMidCapGrowthEquityIIFund column period compact * ~</div>
0.1341
0.1244
0.0998
0.1331
0.1308
0.0631
0.1149
0.1459
0.1635
0.0209
0.0135
0.016
0.0195
0.0179
0.0034
0.0123
0.0349
0.0356
0.0932
0.0867
0.0816
0.0918
0.0901
0.081
0.0841
0.098
0.0972
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown.
<b>MassMutual RetireSMART<sup>SM</sup> Conservative Fund</b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
-0.3909
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0.4177
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
0.1097
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
<b>Annual Performance<br/><br/>Class A Shares
-0.1309
<b>Average Annual Total Returns</b><br/>(for the periods ended December 31, 2012)
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
0.227
Highest Quarter:
2009-06-30
0.256
Lowest Quarter:
2008-12-31
-0.2118
72
87
97
112
705
268
303
256
335
382
1008
552
592
538
457
672
1333
961
2104
2250
1498
1327
1211
1035
<b>Non-Diversification Risk </b>Because the Fund may invest its assets in a more limited number of issuers than a diversified fund, a decline in the market value of a particular security may affect the Fund’s value more than if the Fund were diversified.
1.07
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
163
505
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance.
871
1900
You have the potential to make money by investing in the Fund, but you can also lose money.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance.
1-888-309-3539
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.2314
0.1732
0.227
0.2268
0.1524
0.2264
0.2267
0.1543
0.2096
0.1732
http://www.massmutual.com/funds
0.0472
0.0229
2010-11-15
2010-11-15
0.0043
0.0007
0.0037
0.0038
0.0035
-0.0107
-0.0021
-0.0369
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.078
0.0415
0.0891
0.081
0.0786
0.0885
0.0877
0.0786
0.0817
0.0821
84
91
101
694
257
March 31, 2014
0.069
0.0592
-0.2475
0.2514
0.1195
0.0098
262
284
315
946
486
0.1119
Highest Quarter:
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
455
493
547
1217
839
25000
1014
1096
1213
1989
1834
0.61
You have the potential to make money by investing in the Fund, but you can also lose money.
97
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (Financial Times Stock Exchange (FTSE) World Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s fixed income investments and a hypothetical custom index which comprises the S&P 500, FTSE World (ex-U.S.), BofA Merrill Lynch Current 5-Year U.S. Treasury, and Citigroup Non-USD World Government Bond Indexes.
356
636
1-888-309-3539
http://www.massmutual.com/funds
1432
0.1119
0.1046
0.0748
0.111
0.1101
0.0438
0.16
0.0421
0.0947
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
0.0166
0.0595
0.027
0.0325
0.0179
0.0335
0.0252
0.0264
0.0343
Highest Quarter:
2010-09-30
0.0899
0.0464
0.0366
0.035
0.0457
0.0448
0.0353
0.0496
0.039
0.0531
Lowest Quarter:
2011-09-30
-0.1111
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
2009-06-30
0.211
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
<b>MassMutual Select Overseas Fund </b>
<b>INVESTMENT OBJECTIVE </b>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Lowest Quarter:
2008-12-31
-0.2505
157
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
486
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
839
The Fund seeks growth of capital over the long-term by investing in foreign equity securities.
1834
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 129 of the Fund’s Prospectus or from your financial professional.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Portfolio Turnover </b>
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
Under normal circumstances, the Fund invests at least 80% of its net assets in stocks of foreign companies, including companies located in Europe, Latin America, and Asia. The Fund may invest in equity securities of issuers in emerging markets. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stocks, depositary receipts, rights and warrants, of issuers of any size. The Fund may but will not necessarily engage in foreign currency forward contracts to attempt to protect against adverse changes in currency exchange rates. The Fund may use futures contracts as a substitute for direct investments. Use of derivatives by the Fund may create investment leverage. The Fund may hold a portion of its assets in cash or cash equivalents.<br/><br/>The Fund is managed by three subadvisers, J.P. Morgan Investment Management Inc. ("J.P. Morgan"), Massachusetts Financial Services Company ("MFS"), and Harris Associates L.P. ("Harris"), each being responsible for a portion of the portfolio, but not necessarily equally weighted. Each subadviser may invest a relatively high percentage of the Fund's assets in a single country, a small number of countries, or a particular geographic region or sector. <br/><br/>In choosing stocks for the Fund, J.P. Morgan uses a dividend discount model to quantify its fundamental research, producing a ranking of companies in each industry group according to their relative values. J.P. Morgan then buys and sells stocks, using the research and valuation rankings, as well as its assessment of other factors, including: <ul type="square"><li style="margin-left:-20px">value characteristics such as low price to book and price to earnings ratios;</li></ul><ul type="square"><li style="margin-left:-20px"> catalysts that could trigger a change in a stock's price; </li></ul><ul type="square"><li style="margin-left:-20px">potential reward compared to potential risk; and </li></ul><ul type="square"><li style="margin-left:-20px">temporary mispricings caused by market overreactions.</li></ul>In selecting investments for the Fund, MFS is not constrained to any particular investment style. MFS may invest the Fund's assets in the stocks of companies it believes to have above average earnings growth potential compared to other companies (growth companies), in the stocks of companies it believes are undervalued compared to their perceived worth (value companies), or in a combination of growth and value companies. MFS uses a bottom-up investment approach to buying and selling investments for the Fund. Investments are selected primarily based on fundamental analysis of individual issuers and their potential in light of their financial condition, and market, economic, political, and regulatory conditions. Factors considered may include analysis of an issuer's earnings, cash flows, competitive position, and management ability. Quantitative models that systematically evaluate an issuer's valuation, price and earnings momentum, earnings quality, and other factors may also be considered.<br/><br/>Harris uses a value investment philosophy. This investment philosophy is based upon the belief that, over time, a company's stock price converges with the company's intrinsic or true business value. Harris seeks to identify companies that it believes have discounted stock prices compared to the companies' true business values. By "true business value," Harris means an estimate of the price a knowledgeable buyer would pay to acquire the entire business. Harris usually sells a stock when the price approaches its estimated worth. This means that Harris sets specific "buy" and "sell" targets for each stock held by the Fund. Harris also monitors each holding and adjusts those price targets as warranted to reflect changes in a company's fundamentals. Harris may from time to time have significant investments in one or more countries or in particular sectors.
<b>Principal Risks </b>
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Geographic Focus Risk</b> When the Fund focuses investments on a particular country, group of countries, or geographic region, its performance will be closely tied to the market, currency, economic, political, or regulatory conditions and developments in those countries or that region, and could be more volatile than the performance of more geographically diversified funds.<br/><br/><b>Growth Company Risk </b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>Sector Risk</b> The Fund may allocate more of its assets to certain economic, market, or industry sectors than to others. This could increase the volatility of the Fund’s portfolio, and the Fund’s performance may be more susceptible to developments affecting issuers in those sectors than if the Fund invested more broadly.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectMid-CapValueFundBarChart column period compact * ~</div>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25.60%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-21.18%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
0.281
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectLargeCapValueFund column period compact * ~</div>
0.1039
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectLargeCapValueFund column period compact * ~</div>
0.0447
0.1535
Highest Quarter:
0.05
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
2009-09-30
-0.3731
0.2748
0.2616
Lowest Quarter:
0.1457
2008-12-31
0.0169
-0.2695
Highest Quarter:
2009-06-30
0.1551
0.2547
Lowest Quarter:
2008-12-31
-0.2472
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
http://www.massmutual.com/funds
<b>INVESTMENT OBJECTIVE </b>
1-888-309-3539
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<b>FEES AND EXPENSES OF THE FUND </b>
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance.
168
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
<b>Example </b>
552
You have the potential to make money by investing in the Fund, but you can also lose money.
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
961
2104
<b>Portfolio Turnover </b>
March 31, 2014
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 82% of the average value of its portfolio.
0.39
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectSmallCapGrowthEquityFund column period compact * ~</div>
0.0671
<b>Performance Information </b>
Other Expenses have been restated to reflect current fees.
0.0329
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.0547
0.0555
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectSmallCapGrowthEquityFund column period compact * ~</div>
-0.1617
0.2005
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectBlackRockGlobalAllocationFund column period compact * ~</div>
0.1004
0.0278
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectBlackRockGlobalAllocationFund column period compact * ~</div>
0.0964
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectSmallCapGrowthEquityFund column period compact * ~</div>
0.1187
0.102
0.028
0.0372
0.051
0.052
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money. Except as otherwise stated, references in this section to "the Fund" or "a Fund" may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund's receipt of payments on the loan will be dependent on the third party's willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk</b> The Fund's investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk</b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk</b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund's shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk</b> The value of assets or income from the Fund's investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund's assets can decline as can the value of the Fund's distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as "junk" or "high yield" bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer's ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager's ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk</b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security's intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk</b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
0.2014
0.1526
0.1986
0.1986
0.1291
0.1984
0.1961
0.1251
0.1787
0.1526
2004-01-02
2004-01-02
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectBlackRockGlobalAllocationFund column period compact * ~</div>
0.0487
0.047
0.041
0.0479
0.0465
0.0316
0.0402
0.0312
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>INVESTMENTS, RISKS, AND PERFORMANCE <br/><br/>Principal Investment Strategies </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectPIMCOTotalReturnFund column period compact * ~</div>
Highest Quarter:
<b>Annual Performance <br/><br/>Class S Shares </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectSmallCapGrowthEquityFundBarChart column period compact * ~</div>
0.0935
0.0926
0.0829
0.0925
0.0908
0.0815
0.0847
0.0752
2009-06-30
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectPIMCOTotalReturnFundBarChart column period compact * ~</div>
<b>INVESTMENT OBJECTIVE </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectBlackRockGlobalAllocationFundBarChart column period compact * ~</div>
0.1592
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectPIMCOTotalReturnFund column period compact * ~</div>
<b>Performance Information </b>
0.1799
0.1312
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectBlackRockGlobalAllocationFund column period compact * ~</div>
<b>FEES AND EXPENSES OF THE FUND </b>
Lowest Quarter:
2008-12-31
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectSmallCapGrowthEquityFund column period compact * ~</div>
-0.2213
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectPIMCOTotalReturnFund column period compact * ~</div>
0.3151
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualSelectPIMCOTotalReturnFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectPIMCOTotalReturnFund column period compact * ~</div>
0.1941
<b>Shareholder Fees</b> (fees paid directly from your investment)
0.1028
<b>MassMutual RetireSMART<sup>SM</sup> 2030 Fund </b>
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
-0.0586
0.1821
-0.4653
0.5697
0.2027
0.0482
0.1986
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1Q '12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8.49%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '11,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-11.12%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 55% of the average value of its portfolio.
2011-12-07
2011-12-07
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
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<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectLargeCapValueFund column period compact * ~</div>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund's allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund's inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the "Predecessor Account"); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge. As a mutual fund registered under the Investment Company Act of 1940, as amended (the "1940 Act"), the Fund is subject to certain requirements and restrictions under the 1940 Act and the Internal Revenue Code of 1986, as amended (the "Code"), to which the Predecessor Account was not subject. If the Predecessor Account had been subject to those requirements and restrictions, it might have achieved less favorable investment performance. Because of the difference in tax treatments of the Predecessor Account and the Fund, after-tax performance information is not presented for the five-year or ten-year periods. Past performance is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
0.0964
0.0864
0.0642
0.0953
0.0945
0.0286
0.0789
0.0421
0.16
0.0453
0.0353
0.0333
0.0451
0.0437
0.0288
0.0381
0.0595
0.0166
<b>Principal Risks </b>
<b>INVESTMENT OBJECTIVE </b>
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
0.1187
0.0831
0.028
0.045
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
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0
0
0
0
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The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets directly or indirectly in one or more commodities or commodities-related investments or may themselves invest using an asset allocation strategy among equity, fixed income, money market, commodity, and other investments. The Fund has a conservative asset allocation strategy (relative to the other risk-based MassMutual RetireSMART Funds), with approximately 30% of its assets invested in equity and similar funds and approximately 70% invested in fixed income funds, including money market funds. In its periodic determination of the Fund’s asset allocation to Underlying Funds, MassMutual will attempt to select Underlying Funds that it expects will provide an aggregate exposure to “junk” or “high yield” bonds (securities rated below investment grade by Moody’s or Standard & Poor’s, or unrated securities determined to be of comparable quality by the applicable adviser or subadviser), including securities in default, of not more than 10% of the Fund’s assets (although the Fund’s exposure may from time to time exceed that percentage). The Fund is designed for use as part of an overall investment strategy by an investor who is saving for, or is already in, retirement.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>30.6%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified Value (Brandywine Global/Loomis Sayles)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Value (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Large Cap Value (Columbia Management/Huber Capital Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Focused Value (Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Growth (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Blue Chip Growth (T. Rowe Price)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Growth Opportunities (Sands Capital/Delaware Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid-Cap Value (NFJ/Systematic)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Value Equity (Wellington Management/Barrow Hanley)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"> <td valign="top"> Select Small Company Value (Federated Clover/T. Rowe Price/Earnest Partners)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM S&P<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Mid Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> MM Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Small Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid Cap Growth Equity II (T. Rowe Price/Frontier)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Growth Equity (Wellington Management/Waddell & Reed/Timberline)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Small Company Growth (The Boston Company/Eagle)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Real Estate (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"><b>—International/Global Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified International (J.P. Morgan)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Overseas (J.P. Morgan/MFS/Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier International Equity (OFI Institutional)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Focused International (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Strategic Emerging Markets (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Developing Markets Fund (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>67.5%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Money Market (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Short-Duration Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">16.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Inflation-Protected and Income (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Core Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">26.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select PIMCO Total Return (PIMCO)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Strategic Bond (Western Asset)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier High Yield (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier International Bond (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer International Bond Fund<br/> (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>2.1%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Commodity Strategy Total Return (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table><br/>Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%.<br/><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.
0.0485
0.0367
0.0356
0.0482
0.0471
0.0375
0.0413
0.0531
0.0496
0.051
0.0522
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br /><br /> <b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br /><br /> <b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /> <b>Commodities-Related Investments Risk </b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br /><br /> <b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /> <b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /> <b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /> <b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk</b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br /><br /> <b>Fixed Income Securities Risk </b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br /><br /> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /> <b>Growth Company Risk </b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br /><br /> <b>Inflation Risk </b> The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br /><br /> <b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /> <b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br /><br /> <b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /> <b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /> <b>Mortgage- and Asset-Backed Securities Risk </b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br /><br /> <b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /> <b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br /><br/> <b>Repurchase Agreement Risk </b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral. <br /><br /><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br /><br /> <b>Smaller and Mid-Cap Company Risk </b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /> <b>U.S. Government Securities Risk </b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br /><br /> <b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /> <b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br /><br /> <b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<b>FEES AND EXPENSES OF THE FUND </b>
<b>Example </b>
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
183
581
1004
2185
<b>Performance Information </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 55% of the average value of its portfolio.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualSelectFocusedValueFundBarChart column period compact * ~</div>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectFocusedValueFund column period compact * ~</div>
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> 2035 Fund </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 52% of the average value of its portfolio.
<b>INVESTMENTS, RISKS, AND PERFORMANCE<br/><br/>Principal Investment Strategies</b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectMid-CapValueFund column period compact * ~</div>
0.16
0.0421
0.1187
0.1589
<b>Principal Risks </b>
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<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectMid-CapValueFund column period compact * ~</div>
0.0821
0.0732
0.0608
0.0979
0.0522
0.0775
0.0788
0.0675
0.0719
0.1596
0.16
0.1551
0.1515
0.1055
0.1577
0.1556
0.1557
0.0866
0.1391
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectMid-CapValueFund column period compact * ~</div>
0.0125
0.0097
0.0101
0.0146
0.0122
-0.0017
0.0126
0.0071
<b>INVESTMENT OBJECTIVE </b>
0.1551
0.12
0.0665
0.0639
0.0582
0.0689
0.0663
0.0662
0.0573
0.0605
<b>Performance Information </b>
2011-12-07
2011-12-07
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectMid-CapValueFund column period compact * ~</div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.1486
0.1495
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2004-01-02
2004-01-02
<b>Principal Risks </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualSelectOverseasFund column period compact * ~</div>
0.0382
0.0391
0.0401
0.0401
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<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectOverseasFund column period compact * ~</div>
0.046
0.0469
0.0479
0.0504
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectOverseasFund column period compact * ~</div>
0.0096
0.0101
0.0111
0.0136
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<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualSelectOverseasFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMARTInRetirementFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMARTInRetirementFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMARTInRetirementFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualRetireSMARTInRetirementFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualSelectLargeCapValueFund column period compact * ~</div>
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
0
0
0
0.0575
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMARTInRetirementFundBarChart column period compact * ~</div>
0
0
0
0
<b>Shareholder Fees</b> (fees paid directly from your investment)
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes. Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund’s inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the “Predecessor Account”); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge. As a mutual fund registered under the Investment Company Act of 1940, as amended (the “1940 Act”), the Fund is subject to certain requirements and restrictions under the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), to which the Predecessor Account was not subject. If the Predecessor Account had been subject to those requirements and restrictions, it might have achieved less favorable investment performance. Because of the difference in tax treatments of the Predecessor Account and the Fund, after-tax performance information is not presented for the five-year or ten-year periods. Past performance is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMARTInRetirementFund column period compact * ~</div>
0.16
<b>Performance Information </b>
0.0166
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0.071
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMARTConservativeFund column period compact * ~</div>
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> 2010 Fund </b>
<b>INVESTMENT OBJECTIVE </b>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMARTConservativeFund column period compact * ~</div>
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
<b>Portfolio Turnover </b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 54% of the average value of its portfolio.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMARTConservativeFund column period compact * ~</div>
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
0.0005
0.0005
0.0005
0.0005
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0
0
0
0.0025
<b>INVESTMENTS, RISKS, AND PERFORMANCE <br/><br/><b>Principal Investment Strategies </b>
<b>Example </b>
0.49
0.0175
0.0184
0.0194
0.0194
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMARTConservativeFund column period compact * ~</div>
0.0064
0.0064
0.0064
0.0064
0.0244
0.0253
0.0263
0.0288
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectFocusedValueFund column period compact * ~</div>
<b>Portfolio Turnover </b>
0.0087
0.0092
0.0102
0.0127
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 49% of the average value of its portfolio.
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<b> Principal Risks </b>
<b>INVESTMENT OBJECTIVE </b>
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest<br/> Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q ’09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9.91%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q ’08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-8.73%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>Performance Information </b>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> 2040 Fund</b>
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>INVESTMENTS, RISKS, AND PERFORMANCE</b><br/><br/><b>Principal Investment Strategies</b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectLargeCapValueFund column period compact * ~</div>
<b>Performance Information </b>
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund. <br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk </b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/> <b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk </b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk </b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk </b> The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk </b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely- held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk </b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
You have the potential to make money by investing in the Fund, but you can also lose money.
<b>Annual Performance<br/><br/>Class S Shares<b>
157
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 40% of the average value of its portfolio.
491
<b>Performance Information </b>
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
848
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
1855
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk </b>The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b>These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk </b>The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk </b>These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools </b>The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk </b>Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk </b>The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b>These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
0.4
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500® Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI® EAFE®, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br /><br /><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br /><br /><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b> Commodities-Related Investments Risk</b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br /><br /><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /><b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br /><br /><b>Fixed Income Securities Risk </b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br /><br /><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /><b>Growth Company Risk </b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br /><br /><b>Inflation Risk </b> The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br /><br /><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /><b>Lower-Rated Fixed Income Securities Risk </b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br /><br /><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Mortgage- and Asset-Backed Securities Risk </b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br /><br /><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br /><br /><b>Repurchase Agreement Risk </b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br /><br /><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br /><br /><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /><b>U.S. Government Securities Risk </b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br /><br /><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br /><br /><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
<b>Annual Performance<br/><br/>Class S Shares </b>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13.05%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-13.60%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0
0
0
0
0.01
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
25000
0.0793
<b>MM S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index Fund </b>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
0.002
0.0029
0.0039
0.0039
0.0044
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.0096
0.0105
0.0115
0.014
0.017
<b>Principal Risks </b>
The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
http://www.massmutual.com/funds
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
1-888-309-3539
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Example </b>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
Past performance is not necessarily an indication of how the Fund will perform in the future.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMMSP500IndexFund column period compact * ~</div>
0.49
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMMSP500IndexFund column period compact * ~</div>
The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown.
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMMSP500IndexFund column period compact * ~</div>
Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund’s inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the “Predecessor Account”); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMMSP500IndexFundBarChart column period compact * ~</div>
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br /><br /> <b>Bank Loans Risk </b>Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br /><br /> <b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /> <b>Commodities-Related Investments Risk </b>The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. <br /><br /> <b>Convertible Securities Risk </b>Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /> <b>Credit Risk </b>The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /> <b>Derivatives Risk </b>Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /> <b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b>These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br /><br /> <b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br /><br /> <b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /> <b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br /><br /> <b>Inflation Risk </b>The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br /><br /> <b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /> <b>Lower-Rated Fixed Income Securities Risk </b>Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br /><br /> <b>Management Risk </b>The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /> <b>Market Risk </b>The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /> <b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br /><br /> <b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /> <b>REIT Risk </b>Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br /><br /> <b>Repurchase Agreement Risk </b>These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br /><br /> <b>Risk of Investment in Other Funds or Pools </b>The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br /><br /> <b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /> <b>U.S. Government Securities Risk </b>Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br /><br /> <b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /> <b>Value Company Risk </b>The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br /><br /> <b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b>These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Highest Quarter:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMMSP500IndexFund column period compact * ~</div>
89
94
104
697
2009-06-30
<b>Principal Risks </b>
610
634
664
1272
0.1305
Lowest Quarter:
2008-12-31
<b>Performance Information </b>
1158
1200
1251
1872
-0.136
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
2657
2744
2844
3486
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualSelectSmallCapGrowthEquityFund column period compact * ~</div>
<b>Annual Performance <br/><br/>Class S Shares </b>
<b>Performance Information </b>
<b>Performance Information </b>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19.39%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-23.15%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup>®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup >®</sup> EAFE<sup>®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk</b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk</b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk</b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br /><br /><b>Inflation Risk </b> The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br /><br /><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br /><br /><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br /><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Mortgage- and Asset-Backed Securities Risk</b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br /><br /><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br /><br /><b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br /><br /><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br /><br /><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /><b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br /><br /><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br /><br /><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk</b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
0
0
0
0.0575
0
0
0
0
0
0.01
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. The Fund’s name, investment objective, and investment strategy changed on February 22, 2012 to permit the Fund to become “actively” managed. Because the Fund was previously “passively” managed, the performance results shown would likely be different had the Fund’s current investment objective and investment strategy been in effect for the entire period for which performance results are presented. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
Highest Quarter:
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
2009-06-30
0.1294
0.117
0.0907
0.1286
0.1267
0.0599
0.0421
0.16
0.1187
0.1196
0.1797
Lowest Quarter:
2008-12-31
0.0792
0.0692
0.064
0.0787
0.0773
0.0519
0.0608
0.0979
0.0732
0.0793
-0.2115
0.0005
0.0005
0.0005
0.0005
0.0005
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> 2045 Fund </b>
0.1375
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
0.08
0
0
0
0.0025
0.005
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br /><br /><b>Principal Investment Strategies </b>
0.1163
0.0663
<b>Annual Performance</b><br /><br /><b>Class S Shares </b>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
-0.3954
0.0032
0.0041
0.0051
0.0051
0.0056
0.3411
0.0072
0.0072
0.0072
0.0072
0.0072
March 31, 2014
0.154
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMMSP500IndexFund column period compact * ~</div>
0.68
-0.0379
0.1569
0.0109
0.0118
0.0128
0.0153
0.0183
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
An investment in this Fund is not guaranteed, and you may experience losses.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2010Fund column period compact * ~</div>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
-0.0014
-0.0018
-0.0018
-0.0018
-0.0018
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
http://www.massmutual.com/funds
0.0095
0.01
0.011
0.0135
0.0165
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Performance for Class A shares of the Fund reflects any applicable sales charge.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2010Fund column period compact * ~</div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
<b><a name="pro458628_13"></a>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> Moderate Growth Fund </b>
0.1569
0.1544
0.1051
0.156
0.1559
0.0865
0.1391
0.16
0.0421
0.1187
0.1522
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2010Fund column period compact * ~</div>
0.0108
0.028
0.0595
0.0166
0.0012
-0.0078
0.0065
0.0074
0.0054
0.0036
0.0082
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
1-888-309-3539
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualRetireSMART2010Fund column period compact * ~</div>
0.0478
0.041
0.0398
0.0472
0.0463
0.0368
0.0406
0.0496
0.0531
0.051
0.0539
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2010FundBarChart column period compact * ~</div>
Highest Quarter:
2012-03-31
0.1268
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2010Fund column period compact * ~</div>
Lowest Quarter:
2011-09-30
-0.1731
http://www.massmutual.com/funds
<b>Annual Performance<br /><br />Class S Shares </b>
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
97
102
112
705
268
333
357
388
1014
558
587
632
685
1345
974
1316
1416
1529
2279
2133
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
-0.0453
0.1648
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<b>INVESTMENT OBJECTIVE </b>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">18.62%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-21.92%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.0165
0.0431
0.0432
-0.0819
0.1895
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">16.75%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-18.29%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.1051
0.0661
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
0.0786
<b>Average Annual Total Returns</b><br />(for the periods ended December 31, 2012)
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
-0.0368
-0.0368
-0.0368
-0.0364
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2030 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br /><br />The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2030. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2030, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets.<br /><br />The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><div><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse;"><tr><td width="81%"></td><td valign="bottom" width="8%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>81.7%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top"><b>—Domestic Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Disciplined Growth (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.6%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Disciplined Value (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.8%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top"><b>—International Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr><td valign="top">Select Overseas (J.P. Morgan/MFS/Harris)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">7.8%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top">MM MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> International Index (NTI)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.2%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr><td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>14.6%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Other Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>3.7%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr></table></div><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.<br /><br />The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/><img alt="chart" src="g458123g458628g49t25.jpg"></img>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2030Fund column period compact * ~</div>
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
168
558
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2030Fund column period compact * ~</div>
974
2133
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2030Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualRetireSMART2030Fund column period compact * ~</div>
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2004-01-02
2004-01-02
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2030FundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2035Fund column period compact * ~</div>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2035Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2030Fund column period compact * ~</div>
-0.0031
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2035Fund column period compact * ~</div>
0.1294
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2035FundBarChart column period compact * ~</div>
-0.393
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2035Fund column period compact * ~</div>
0.3458
0
0
0
0.0575
0
0.1586
-0.0447
0
0
0
0
0.01
0.1622
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9.60%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-8.55%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.1622
0.1527
0.1178
0.1627
0.162
0.0909
0.1447
0.16
0
0
0
0.0575
0.0421
0
0
0
0
0.1187
0.1589
0.01
0.0036
0.0072
0.0098
0.0087
-0.0054
0.0028
0.0595
0.028
0.0166
0.0114
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.0107
0.0043
0.0078
0.0105
0.0095
-0.0045
0.0036
0.0167
0.0616
0.028
0.0114
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
<b>Principal Risks </b>
0.0249
0.0258
0.0268
0.0268
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.0325
0.0334
0.0344
0.0369
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
0.0094
0.0099
0.0109
0.0134
0.0005
0.0005
0.0005
0.0005
0.0005
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> In Retirement Fund </b>
0
0
0
0.0025
0.005
0.0018
0.0027
0.0037
0.0037
0.0042
0.007
0.007
0.007
0.007
0.007
0.0093
0.0102
0.0112
0.0137
0.0167
-0.0231
-0.0235
-0.0235
-0.0235
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.55
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expected to have retired around the year 2010 and to have stopped making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br/><br/>The Fund is designed for an investor who has already reached retirement age (with an assumed retirement around 2010) and who plans to withdraw the value of his or her account gradually over time during retirement. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative (currently approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds), until reaching approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, in or about 2025. Over time, the Fund’s annual fund operating expenses will likely increase because certain fixed costs of the Fund will be shared by a smaller pool of assets as investors redeem shares of the Fund.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/> <div style="POSITION: relative; PADDING-BOTTOM: 8pt; WIDTH: 100%; PADDING-RIGHT: 9pt; FLOAT: left; OVERFLOW: hidden; MARGIN-RIGHT: 1%; PADDING-TOP: 3pt"> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>47.0%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>50.6%</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top"> Premier Short-Duration Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Inflation-Protected and Income (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td></td> <td></td></tr> <tr> <td valign="top">Premier Core Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right">17.2%</td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td></td> <td></td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>2.5%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr></table></div> Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%. <br/><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds. <br/><br/>The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/><img alt="chart" src="g458123g458628g69y78.jpg"></img>
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2020 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br/><br/>The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2020. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2020, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets.<br/><br/> The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><div><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse;"><tr><td width="81%"></td><td valign="bottom" width="8%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>69.2%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top"><b>—Domestic Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Disciplined Growth (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.6%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Disciplined Value (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.8%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top"><b>—International Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr><td valign="top">Select Overseas (J.P. Morgan/MFS/Harris)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.3%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top">MM MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> International Index (NTI)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">5.1%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right"><b>27.6%</b></td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Short-Duration Bond Fund</td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right">5.4%</td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Inflation-Protected and Income (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">5.4%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Core Bond (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right">7.9%</td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Other Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>3.3%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr></table></div><br/>Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%. <br /><br /> Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds. <br /><br /> The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br /><br /><img alt="chart" src="g458123g458628g28y11.jpg"></img>
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
2010-04-01
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0
0
0
0.0575
0
0
0
0
0
0.01
<b>INVESTMENT OBJECTIVE </b>
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br /><br /><b>Bank Loans Risk </b>Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br /><br /><b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br /><br /><b>Commodities-Related Investments Risk </b>The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br /><br /><b>Convertible Securities Risk </b>Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br /><br /><b>Credit Risk </b>The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br /><br /><b>Derivatives Risk </b>Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br /><br /><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b>These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br /><br /><b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br /><br /><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br /><br /><b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br /><br /><b>Inflation Risk </b>The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br /><br /><b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br /><br /><b>Lower-Rated Fixed Income Securities Risk </b>Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br /><br /><b>Management Risk </b>The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br /><br/> <b>Market Risk </b>The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market- induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br /><br /><b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset- backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br /><br /><b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br /><br /><b>REIT Risk </b>Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br /><br /><b>Repurchase Agreement Risk </b>These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br /><br /><b>Risk of Investment in Other Funds or Pools </b>The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br /><br /><b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br /><br /><b>U.S. Government Securities Risk </b>Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br /><br /><b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br /><br /><b>Value Company Risk </b>The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br /><br /><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b>These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
0.0005
0.0005
0.0005
0.0005
0.0005
Highest Quarter:
0
0
0
0.0025
0.005
2009-06-30
0.0018
0.0027
0.0037
0.0037
0.0042
0.1939
Lowest Quarter:
0.0066
0.0066
0.0066
0.0066
0.0066
2008-12-31
-0.2315
0.0089
0.0098
0.0108
0.0133
0.0163
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> 2050 Fund </b>
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<b>FEES AND EXPENSES OF THE FUND </b>
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
<b>Shareholder Fees</b> (fees paid directly from your investment)
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 87% of the average value of its portfolio.
<b>Example </b>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
95
104
114
706
270
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
<b>Principal Risks </b>
296
325
356
984
526
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk </b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk </b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk </b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk </b> The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/> <b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk </b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk </b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1Q '12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12.68%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '11,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-17.31%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>Performance Information </b>
515
563
617
1282
907
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
1143
1248
1363
2127
1976
<b>Annual Performance </b><br/><br/><b>Class S Shares </b>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2045Fund column period compact * ~</div>
<b>MassMutual RetireSMART<sup>SM</sup> 2025 Fund</b>
<b>INVESTMENT OBJECTIVE </b>
The Fund seeks to achieve as high a total rate of return on an annual basis as is considered consistent with prudent investment risk and the preservation of capital.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2045Fund column period compact * ~</div>
<b>FEES AND EXPENSES OF THE FUND </b>
March 31, 2014
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled Sales Charges by Class on page 107 of the Fund’s Prospectus or from your financial professional.
0.87
<b>Shareholder Fees</b> (fees paid directly from your investment)
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2045Fund column period compact * ~</div>
<b>Annual Fund Operating Expenses</b> (expenses that you pay each year as a percentage of the value of your investment)
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
<b>Example </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2045FundBarChart column period compact * ~</div>
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment earns a 5% return each year and that the Fund’s operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
<b>Portfolio Turnover </b>
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 55% of the average value of its portfolio.
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
<b>INVESTMENTS, RISKS, AND PERFORMANCE <br/><br/>Principal Investment Strategies </b>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2045Fund column period compact * ~</div>
25000
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2025 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br/><br/>The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2025. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2025, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><div><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse;"><tr><td width="81%"></td><td valign="bottom" width="8%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>76.2%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top"><b>—Domestic Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Disciplined Growth (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.8%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Disciplined Value (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">7.0%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top"><b>—International Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr><td valign="top">Select Overseas (J.P. Morgan/MFS/Harris)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">7.3%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top">MM MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> International Index (NTI)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">5.4%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr><td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>20.2%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Other Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>3.6%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr></table></div><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.<br/><br/>The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/><img alt="chart" src="g458123g458628g63y45.jpg"></img>
91
100
110
703
266
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to "the Fund" or "a Fund" may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund's receipt of payments on the loan will be dependent on the third party's willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk</b> The Fund's investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk</b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk</b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund's shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk</b> The value of assets or income from the Fund's investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund's assets can decline as can the value of the Fund's distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as "junk" or "high yield" bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer's ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager's ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market- induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk</b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security's intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk</b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
<b>Principal Risks </b>
284
312
343
972
514
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
493
542
595
1262
887
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
170
1096
1201
1317
2084
1933
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
<b>Performance Information </b>
526
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500<sup >®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup>®</sup> EAFE<sup>®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
907
<b>Annual Performance<br/><br/>Class S Shares </b>
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
1976
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="left"><tr> <td valign="bottom">Highest <br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1Q ’12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10.83%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q ’11,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom" align="right">-14.87%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
166
514
0.1555
0.1526
0.1047
0.1544
0.1532
0.0835
0.1364
0.16
0.0421
0.1187
0.1481
887
1933
0.0126
0.0076
0.009
0.012
0.0111
-0.0034
0.0055
0.0166
0.0595
0.028
0.0153
2007-12-17
2007-12-17
2007-12-17
2007-12-17
2007-12-17
2007-12-17
2007-12-17
2007-12-17
2007-12-17
0.0462
0.039
0.0378
0.0455
0.0446
0.0351
0.0389
0.0496
0.0531
0.0517
0.051
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.1019
0.0565
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 61% of the average value of its portfolio.
0.0812
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1Q '12,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11.75%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3Q '11,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-16.01%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
2008-01-02
0.0559
-0.3242
0.3084
2008-01-02
0.1418
-0.0178
0.1414
-0.0157
-0.0161
-0.0161
-0.0161
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies </b>
0
0
0
0.0575
<b>Portfolio Turnover </b>
0
0
0
0
0.1414
0.1369
0.0951
0.1409
0.1394
0.0712
0.1231
0.16
0.0421
-0.036
0.0251
0.0192
0.0188
0.0246
0.0235
0.0088
0.0179
0.0166
0.0595
0.1564
0.0464
0.0377
0.0365
0.0458
0.0447
0.0353
0.0391
0.0496
0.0531
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
0.0005
0.0005
0.0005
0.0005
0
0
0
0.0025
Highest Quarter:
2009-06-30
0.1564
0.1481
0.1115
0.1558
0.1545
0.0856
0.16
0.0421
0.1187
0.15
0.096
0.0211
0.022
0.023
0.023
Lowest Quarter:
0.0786
0.0716
0.0665
0.078
0.077
0.0514
0.0979
0.0608
0.0732
0.0826
0.0069
0.0069
0.0069
0.0069
2008-12-31
March 31, 2014
-0.0855
0.82
0.0285
0.0294
0.0304
0.0329
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
0.0107
0.0097
0.0092
0.0132
<b>Annual Performance </b><br/><br/><b>Class A Shares </b>
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2040 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br/><br/>The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2040. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2040, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><div style="POSITION: relative; PADDING-BOTTOM: 8pt; WIDTH: 100%; PADDING-RIGHT: 9pt; FLOAT: left; OVERFLOW: hidden; MARGIN-RIGHT: 1%; PADDING-TOP: 3pt"> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>85.6%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"> <td valign="top"><b>—International Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top"> Select Overseas (J.P. Morgan/MFS/Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td></td> <td></td></tr> <tr> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>10.8%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td></td> <td></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>3.6%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr></table></div><br/><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.<br/><br/>The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/><img alt="chart" src="g458123g458628g03n43.jpg"></img>
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk </b>Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk </b>The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk </b>The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk </b>Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk </b>The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk </b>Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk </b>These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk </b>The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk </b>Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk </b>The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk </b>The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk </b>Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk </b>Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk </b>The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk </b>The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk </b>Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk </b>Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk </b>Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk </b>These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools </b>The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk </b>Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk </b>Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk </b>The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk </b>The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk </b>These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2040Fund column period compact * ~</div>
-0.0197
-0.0197
-0.0197
-0.0193
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
1-888-309-3539
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '03,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">20.17%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-24.10%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Highest Quarter:
Performance for Class A shares of the Fund reflects any applicable sales charge.
2009-06-30
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2040Fund column period compact * ~</div>
0.1958
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Lowest Quarter:
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.1187
0.1337
2008-12-31
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
0.028
0.027
-0.2308
0.051
0.0515
0.1
Highest Quarter:
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2040FundBarChart column period compact * ~</div>
Lowest Quarter:
2012-03-31
2011-09-30
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2040Fund column period compact * ~</div>
0.0849
Other Expenses have been restated to reflect current fees.
-0.1112
Other Expenses have been restated to reflect current fees.
0.1271
0.0698
0.1017
0.0618
-0.3794
0.3359
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
Highest Quarter:
0.1495
-0.0332
0.1675
Lowest Quarter:
0.1555
2008-12-31
-0.1829
94
99
109
702
700
723
753
1356
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
1332
1374
1423
2032
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets directly or indirectly in one or more commodities or commodities-related investments or may themselves invest using an asset allocation strategy among equity, fixed income, money market, commodity, and other investments. The Fund has an asset allocation strategy that emphasizes the potential for growth (relative to the other risk-based MassMutual RetireSMART Funds), with approximately 97% of its assets invested in equity and similar funds and approximately 3% invested in fixed income funds, including money market funds. The Fund is designed for use as part of an overall investment strategy by an investor who is saving for, or is already in, retirement.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>94.5%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified Value (Brandywine Global/Loomis Sayles)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Value (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Large Cap Value (Columbia Management/Huber Capital Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Focused Value (Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Growth (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Blue Chip Growth (T. Rowe Price)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Growth Opportunities (Sands Capital/Delaware Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid-Cap Value (NFJ/Systematic)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Value Equity (Wellington Management/Barrow Hanley)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Small Company Value (Federated Clover/T. Rowe Price/Earnest Partners)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> MM S&P<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Mid Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Small Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Mid Cap Growth Equity II (T. Rowe Price/Frontier)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Small Cap Growth Equity (Wellington Management/Waddell & Reed/Timberline)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Company Growth (The Boston Company/Eagle)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Oppenheimer Real Estate (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"><b>—International/Global Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top"> Select Diversified International (J.P. Morgan)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Overseas (J.P. Morgan/MFS/Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier International Equity (OFI Institutional)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Focused International (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Strategic Emerging Markets (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Oppenheimer Developing Markets Fund<br/>(OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>1.7%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"> Premier Short-Duration Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Inflation-Protected and Income (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Core Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select PIMCO Total Return (PIMCO)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Strategic Bond (Western Asset)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier High Yield (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier International Bond (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>3.9%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"> Oppenheimer Commodity Strategy Total Return (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table><br/>Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%.<br/><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.
3036
3120
3216
3828
<b>Principal Risks </b>
0.1353
0.1459
0.1635
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr><td valign="bottom">Highest<br/>Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2Q '09,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19.58%</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom">Lowest Quarter:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4Q '08,</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">-23.08%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table>
0.0739
0.0991
0.0966
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMMRussell2000SmallCapIndexFund column period compact * ~</div>
2010-11-15
2010-11-15
2010-11-15
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2004-01-02
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2003-12-31
2004-01-02
2004-01-02
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2040Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualRetireSMART2040Fund column period compact * ~</div>
2004-01-02
-0.0279
<b>MassMutual RetireSMART<sup>SM</sup> 2020 Fund</b>
0.1502
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2050Fund column period compact * ~</div>
Performance for Class A shares of the Fund reflects any applicable sales charge.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2050Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualRetireSMART2050Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2050FundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2050Fund column period compact * ~</div>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2015Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2015Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2015Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2015FundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2015Fund column period compact * ~</div>
0.55
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup>®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup >®</sup> EAFE<sup>®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
March 31, 2014
0.57
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
You have the potential to make money by investing in the Fund, but you can also lose money.
The bar chart shows changes in the Fund’s performance from year to year for Class A shares. The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown. The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup>®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
Highest Quarter:
http://www.massmutual.com/funds
Past performance is not necessarily an indication of how the Fund will perform in the future.
The returns in the bar chart do not reflect the deduction of any applicable Class A sales charge. If these charges were reflected, returns would be lower than those shown.
2009-06-30
0.1862
Lowest Quarter:
2008-12-31
Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund's inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the "Predecessor Account"); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
Highest Quarter:
-0.2192
2003-06-30
0.2017
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1, 5, and 10 years (or 1 year and since inception for Class Z shares) compare with those of a broad measure of market performance (Russell 2000 Value Index) and an additional index that provides a comparison for the Fund’s returns without regard to investment style. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
Lowest Quarter:
2008-12-31
-0.241
2008-12-31
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors already in retirement. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br/><br/>The Fund’s assets are allocated among Underlying Funds according to a target asset allocation strategy that emphasizes fixed income and money market funds, but also includes a smaller allocation to equity and certain other funds. The Fund is designed for use as part of an overall investment strategy by an investor who is already in retirement.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><div style="POSITION: relative; PADDING-BOTTOM: 8pt; WIDTH: 100%; PADDING-RIGHT: 9pt; FLOAT: left; OVERFLOW: hidden; MARGIN-RIGHT: 1%; PADDING-TOP: 3pt"> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>35.4%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr><tr> <td height="8"></td> <td height="8" colspan="4"></td></tr><tr> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>62.0%</b></td><td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Short-Duration Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">16.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Inflation-Protected and Income (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td></td> <td></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Premier Core Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right">18.6%</td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td></td> <td></td></tr><tr> <td height="8"></td> <td height="8" colspan="4"></td></tr><tr> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>2.6%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr></table></div><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.<br/><br/>The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time.<br/><br/><img alt="chart" src="g458123g458628g66t09.jpg"></img>
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2015 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments. <br/><br/>The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2015. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2015, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets. <br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/> <div><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse;"><tr><td width="81%"></td><td valign="bottom" width="8%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>58.3%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top"><b>—Domestic Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Disciplined Growth (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.2%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Disciplined Value (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.3%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top"><b>—International Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr><td valign="top">Select Overseas (J.P. Morgan/MFS/Harris)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">5.3%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>39.1%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top">Premier Short-Duration Bond (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">8.1%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Inflation-Protected and Income<br/> (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">7.9%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Core Bond (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">13.1%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Other Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>2.6%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr></table></div><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds. <br/><br/>The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/> <img alt="chart" src="g458123g458628g17g31.jpg"></img>
<b>Principal Risks </b>
<b>Average Annual Total Returns </b><br/>(for the periods ended December 31, 2012)
The following are the Principal Risks of the Fund. An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the Fund will provide adequate income at and through your retirement. Except as otherwise stated, references in this section to “the Fund” or “a Fund” may relate to the Fund, one or more Underlying Funds, or both.<br/><br/><b>Bank Loans Risk</b> Bank loans in which the Fund may invest have similar risks to lower-rated fixed income securities. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Senior secured bank loans are supported by collateral; however the value of the collateral may be insufficient to cover the amount owed to the Fund. If the Fund relies on a third party to administer a loan, the Fund is subject to the risk that the third party will fail to perform its obligations. In addition, if the Fund holds only a participation interest in a loan made by a third party, the Fund’s receipt of payments on the loan will be dependent on the third party’s willingness and ability to make those payments to the Fund.<br/><br/><b>Cash Position Risk</b> The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.<br/><br/><b>Commodities-Related Investments Risk</b> The Fund’s investments in commodities markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodities may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.<br/><br/><b>Convertible Securities Risk</b> Convertible securities are subject to the risks of both debt securities and equity securities. The values of convertible securities tend to decline as interest rates rise and, due to the conversion feature, tend to vary with fluctuations in the market value of the underlying common or preferred stock.<br/><br/><b>Credit Risk</b> The Fund is subject to the risk that the issuer of an investment held by the Fund or the counterparty to a transaction entered into by the Fund will be unable or unwilling to honor its obligations.<br/><br/><b>Derivatives Risk</b> Derivatives involve risks different from, and potentially greater than, direct investments, including risks of imperfect correlation between the value of derivatives and underlying assets, counterparty default, potential losses that partially or completely offset gains, and illiquidity. Derivatives can create investment leverage and be highly volatile. Derivatives may result in losses greater than the amount invested. If the value of a derivative does not correlate well with the particular market or asset class the derivative is designed to provide exposure to, the derivative may not have the effect anticipated. Many derivatives are traded in the over-the-counter market and not on exchanges.<br/><br/><b>Dollar Roll and Reverse Repurchase Agreement Transaction Risk</b> These transactions generally create leverage and subject the Fund to the credit risk of the counterparty.<br/><br/><b>Fixed Income Securities Risk</b> The values of fixed income securities typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, and regulatory conditions affecting a particular type of security or issuer or fixed income securities generally. Fixed income securities are subject to interest rate risk (the risk that the value of a fixed income security will fall when interest rates rise), extension risk (the risk that the average life of a security will be extended through a slowing of principal payments), prepayment risk (the risk that a security will be prepaid and the Fund will be required to reinvest at a less favorable rate), and credit risk.<br/><br/><b>Foreign Investment Risk; Emerging Markets Risk; Currency Risk</b> Foreign securities, including ADRs, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the Fund's shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.<br/><br/><b>Growth Company Risk</b> The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.<br/><br/><b>Inflation Risk</b> The value of assets or income from the Fund’s investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions.<br/><br/><b>Liquidity Risk</b> Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.<br/><br/><b>Lower-Rated Fixed Income Securities Risk</b> Lower-rated securities, commonly known as “junk” or “high yield” bonds, have speculative characteristics and involve greater volatility of price and yield, greater risk of loss of principal and interest, and generally reflect a greater possibility of an adverse change in financial condition that could affect an issuer’s ability to honor its obligations.<br/><br/><b>Management Risk</b> The Fund relies on the manager’s ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.<br/><br/><b>Market Risk</b> The value of the Fund’s portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.<br/><br/><b>Mortgage- and Asset-Backed Securities Risk</b> Investments in mortgage- and asset-backed securities subject the Fund to credit risk, interest rate risk, extension risk, and prepayment risk, among other risks. Mortgage-backed and asset-backed securities not issued by a government agency generally involve greater credit risk than securities issued by government agencies. The types of mortgages (for example, residential or commercial mortgages) underlying securities held by the Fund may differ and be affected differently by market factors. Investments that receive only the interest portion or the principal portion of payments on the underlying assets may be more volatile than other investments. The market for mortgage- and asset-backed securities has recently experienced high volatility and a lack of liquidity. As a result, the value of many of these securities has significantly declined.<br/><br/><b>Preferred Stock Risk</b> Preferred stocks are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.<br/><br/><b>REIT Risk</b> Investments in REITs may be subject to risks similar to those associated with direct investment in real estate, as well as additional risks associated with equity investments.<br/><br/><b>Repurchase Agreement Risk</b> These transactions must be fully collateralized at all times, but involve some risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.<br/><br/><b>Risk of Investment in Other Funds or Pools</b> The Fund is indirectly exposed to all of the risks of the Underlying Funds, including exchange-traded funds, in which it invests, including the risk that the Underlying Funds will not perform as expected. The Fund indirectly pays a portion of the expenses incurred by the Underlying Funds.<br/><br/><b>Smaller and Mid-Cap Company Risk</b> Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.<br/><br/><b>U.S. Government Securities Risk</b> Obligations of certain U.S. government agencies and instrumentalities are not backed by the full faith and credit of the U.S. government, and there can be no assurance that the U.S. government would provide financial support to such agencies and instrumentalities.<br/><br/><b>Valuation Risk</b> The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.<br/><br/><b>Value Company Risk</b> The value investment approach entails the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.<br/><br/><b>When-Issued, Delayed Delivery, TBA, and Forward Commitment Transaction Risk</b> These transactions may create leverage and involve a risk of loss if the value of the securities declines prior to settlement.
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes. Performance for Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
March 31, 2014
0.52
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
25000
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
0.1502
0.1414
0.1067
0.1497
0.1484
0.0794
0.16
0.0421
0.1187
0.1427
<b>Portfolio Turnover </b>
0.079
0.0711
0.0662
0.0785
0.0776
0.052
0.0979
0.0608
0.0732
0.0819
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500® Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI® EAFE®, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Performance for Class A shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
<b>MassMutual Select Diversified International Fund</b>
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
0.54
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Highest Quarter:
2012-03-31
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
0.1175
25000
March 31, 2014
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Lowest Quarter:
2011-09-30
0.11
-0.1601
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMARTGrowthFund column period compact * ~</div>
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMARTGrowthFund column period compact * ~</div>
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMARTGrowthFund column period compact * ~</div>
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMARTGrowthFundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2020Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2020Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMARTGrowthFund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2020Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleNoRedemptionTransposedMassMutualRetireSMART2020Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2020FundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2020Fund column period compact * ~</div>
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
2010-04-01
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets directly or indirectly in one or more commodities or commodities-related investments or may themselves invest using an asset allocation strategy among equity, fixed income, money market, commodity, and other investments. The Fund has an asset allocation strategy that emphasizes the potential for moderate growth (relative to the other risk-based MassMutual RetireSMART Funds), with approximately 85% of its assets invested in equity and similar funds and approximately 15% invested in fixed income funds, including money market funds. In its periodic determination of the Fund’s asset allocation to Underlying Funds, MassMutual will attempt to select Underlying Funds that it expects will provide an aggregate exposure to “junk” or “high yield” bonds (securities rated below investment grade by Moody’s or Standard & Poor’s, or unrated securities determined to be of comparable quality by the applicable adviser or subadviser), including securities in default, of not more than 10% of the Fund’s assets (although the Fund’s exposure may from time to time exceed that percentage). The Fund is designed for use as part of an overall investment strategy by an investor who is saving for, or is already in, retirement. <br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>81.4%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified Value (Brandywine Global/Loomis Sayles)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Value (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Large Cap Value (Columbia Management/Huber Capital Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Focused Value (Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Fundamental Growth (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Blue Chip Growth (T. Rowe Price)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Growth Opportunities (Sands Capital/Delaware Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid-Cap Value (NFJ/Systematic)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Value Equity (Wellington Management/Barrow Hanley)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Company Value (Federated Clover/T. Rowe Price/Earnest Partners)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM S&P<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Mid Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> MM Russell 2000<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Small Cap Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Mid Cap Growth Equity II (T. Rowe Price/Frontier)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.4%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Small Cap Growth Equity (Wellington Management/Waddell & Reed/Timberline)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select Small Company Growth (The Boston Company/Eagle)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Real Estate (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.7%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"><b>—International/Global Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Diversified International (J.P. Morgan)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.0%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Overseas (J.P. Morgan/MFS/Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier International Equity (OFI Institutional)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Focused International (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Strategic Emerging Markets (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Oppenheimer Developing Markets Fund<br/>(OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>15.0%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Short-Duration Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Inflation-Protected and Income (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.3%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Core Bond (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Select PIMCO Total Return (PIMCO)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Strategic Bond (Western Asset)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier High Yield (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.6%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier International Bond (Baring)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr><tr> <td valign="top"> Oppenheimer International Bond Fund<br/> (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr><tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>3.8%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"> Oppenheimer Commodity Strategy Total Return (OFI Global)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3.8%</td> <td valign="bottom" nowrap="nowrap"> </td></tr></table><br/>Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%.<br/><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds.
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2050 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments.<br/><br/>The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2050. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2050, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets.<br/><br/>The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr bgcolor="#cceeff"> <td valign="top"><b>Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>92.7%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td valign="top"><b>—Domestic Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Fundamental Value (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> Premier Disciplined Growth (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.9%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Premier Disciplined Value (Babson Capital)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"><b>—International Equity Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Select Overseas (J.P. Morgan/MFS/Harris)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8.5%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td valign="top"> MM MSCI EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> International Index (NTI)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7.2%</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>3.6%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr> <td valign="top"><b>Other Funds</b></td> <td valign="bottom"> </td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>3.7%</b></td> <td valign="bottom" nowrap="nowrap"><b> </b></td></tr></table><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds. <br/><br/>The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/><img alt="chart" src="g458123g458628g47f68.jpg"></img><br/>
The Fund is a “fund of funds” and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates (“Underlying Funds”) using an asset allocation strategy designed for investors expecting to retire around the year 2035 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. (“OFI Global”), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments. <br /><br />The Fund is designed for an investor who plans to withdraw the value of the investor’s account in the Fund gradually after an assumed retirement date around 2035. The Fund’s assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2035, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund’s name, and to the extent investors redeem shares of the Fund, the Fund’s annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets. <br /><br />The table below shows the Fund’s approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under “Additional Information Regarding Investment Objectives and Principal Investment Strategies” in the Fund’s Prospectus. The Fund’s investment adviser, MassMutual, intends to manage the Fund according to the Fund’s target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund’s asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br /><br /><div><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse;"><tr><td width="81%"></td><td valign="bottom" width="8%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>84.3%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top"><b>—Domestic Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Disciplined Growth (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.3%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top">Premier Disciplined Value (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.4%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top"><b>—International Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr><td valign="top">Select Overseas (J.P. Morgan/MFS/Harris)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">8.2%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top">MM MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> International Index (NTI)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.0%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr><td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>12.2%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td height="8"></td><td height="8" colspan="4"></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Other Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>3.6%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr></table></div><br/>Note: the allocation percentages have been rounded to one decimal place. The allocation among equity, fixed income & short term/money market, and certain other funds therefore does not equal 100%. <br /><br />Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including “junk” or “high yield” bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds’ expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds. <br /><br />The following chart illustrates the Fund’s approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund’s target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund’s asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br /><br /><img alt="chart" src="g458123g458628g05v53.jpg"></img>
0.55
March 31, 2014
<b>MassMutual RetireSMART<sup>SM</sup> Growth Fund</b>
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
The Fund is a "fund of funds" and seeks to achieve its investment objective by investing in a combination of domestic and international mutual funds sponsored by MassMutual or its affiliates ("Underlying Funds") using an asset allocation strategy designed for investors expecting to retire around the year 2045 and likely stop making new investments in the Fund. Underlying Funds can include MassMutual Select Funds, MassMutual Premier Funds (which are advised by MassMutual), and Oppenheimer Funds (which are advised by OFI Global Asset Management, Inc. ("OFI Global"), a majority owned, indirect subsidiary of MassMutual). The Underlying Funds may invest in various asset classes, including equity securities, fixed income securities, and money market instruments. Underlying Funds may also invest some or all of their assets in commodities or commodities-related investments. <br/><br/>The Fund is designed for an investor who plans to withdraw the value of the investor's account in the Fund gradually after an assumed retirement date around 2045. The Fund's assets are allocated among Underlying Funds according to an asset allocation strategy that becomes increasingly conservative until it reaches approximately 50% in equity and similar funds and 50% in fixed income funds, including money market funds, in 2045, and approximately 35% in equity and similar funds and 65% in fixed income funds, including money market funds, approximately fifteen years after that. As the Fund reaches the assumed retirement date stated in the Fund's name, and to the extent investors redeem shares of the Fund, the Fund's annual fund operating expenses may increase because certain fixed costs of the Fund would be shared by a smaller pool of assets. <br/><br/>The table below shows the Fund's approximate allocation, as of March 15, 2013, among various asset classes and Underlying Funds in which the Fund invests 5% or more of its assets. Other Underlying Funds in which the Fund invests are listed under "Additional Information Regarding Investment Objectives and Principal Investment Strategies" in the Fund's Prospectus. The Fund's investment adviser, MassMutual, intends to manage the Fund according to the Fund's target asset allocation strategy, and does not intend to trade actively among Underlying Funds or to attempt to capture short-term market opportunities as primary activities. MassMutual may modify the target asset allocation strategy or the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. At any given time, the Fund's asset allocation may be affected by a variety of factors (such as, for example, whether an Underlying Fund is accepting additional investments).<br/><br/><div><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="background-color: rgb(255, 255, 255); border-collapse: collapse;"><tr><td width="81%"></td><td valign="bottom" width="8%"></td><td></td><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>92.5%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td valign="top"><b>—Domestic Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"> <td valign="top"> Select Fundamental Value <br/> (Wellington Management)</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.1%</td> <td valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="top">Premier Disciplined Growth (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.0%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr bgcolor="#cceeff"><td valign="top">Premier Disciplined Value (Babson Capital)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.2%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td valign="top"><b>—International Equity Funds</b></td><td valign="bottom"> </td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr bgcolor="#cceeff"><td valign="top">Select Overseas (J.P. Morgan/MFS/Harris)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">8.8%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr ><td valign="top">MM MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> International Index (NTI)</td><td valign="bottom"> </td><td valign="bottom"> </td><td valign="bottom" align="right">6.6%</td><td nowrap="nowrap" valign="bottom"> </td></tr><tr><td></td><td></td></tr><tr bgcolor="#cceeff"><td valign="top"><b>Fixed Income & Short Term/Money Market Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>3.9%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr><tr><td></td><td></td></tr><tr ><td valign="top"><b>Other Funds</b></td><td valign="bottom"> </td><td valign="bottom"><b> </b></td><td valign="bottom" align="right"><b>3.6%</b></td><td nowrap="nowrap" valign="bottom"><b> </b></td></tr></table></div><br/>Through its investments in Underlying Funds, the Fund may be exposed to a wide range of securities and other instruments with differing characteristics (such as credit quality, duration, geography, industry, and market capitalization), including, but not limited to, equity securities of small-, mid-, or large-capitalization U.S. or non-U.S. issuers, fixed income securities of U.S. or non-U.S. private or governmental issuers (including "junk" or "high yield" bonds, including securities in default), inflation-protected securities, bank loans, and short-term investments of any kind. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, real estate investment trusts ("REITs"), rights, and warrants. An Underlying Fund may engage in foreign currency exchange transactions, including forward contracts, options on currency, futures contracts, and swap contracts, to take long or short positions in foreign currencies in order to enhance its investment return or to attempt to protect against adverse changes in currency exchange rates. An Underlying Fund may be permitted to use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, swap contracts (including interest rate swaps, total return swaps, and credit default swaps), and hybrid instruments. An Underlying Fund may typically use these derivatives for hedging purposes, as a substitute for direct investments, to earn additional income, to gain exposure to securities or markets in which it might not be able to invest directly, or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio of debt securities. Use of derivatives by an Underlying Fund may create investment leverage. An Underlying Fund may enter into repurchase agreement transactions. An Underlying Fund may invest in mortgage-backed or other asset-backed securities. An Underlying Fund may enter into dollar roll or reverse repurchase agreement transactions. The Fund will bear a pro rata share of the Underlying Funds' expenses. The Fund also bears all of the risks associated with the investment strategies used by the Underlying Funds. <br/><br/>The following chart illustrates the Fund's approximate current target asset allocation among equity, fixed income and certain other asset classes as of the date of this Prospectus. The Fund's target asset allocation may differ from this illustration. MassMutual periodically reviews the target asset allocation and underlying investment options and may, at any time, in its discretion, change the target asset allocation or deviate from the target asset allocation. Under normal circumstances, the Fund's asset allocation among equity, fixed income and certain other asset classes is generally expected to vary by no more than plus or minus ten percentage points from the target asset allocation at that time. The chart below is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.<br/><br/><img alt="chart" src="g458123g458628g84o48.jpg"></img>
2009-06-30
25000
<b>INVESTMENTS, RISKS, AND PERFORMANCE </b><br/><br/><b>Principal Investment Strategies</b>
For Class A shares, you may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
An investment in this Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date.
The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500<sup >®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup>®</sup> EAFE<sup>®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
1-888-309-3539
http://www.massmutual.com/funds
Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Performance for Class A shares of the Fund reflects any applicable sales charge.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
25000
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2025Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualFundOperatingExpensesMassMutualRetireSMART2025Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleExpenseExampleTransposedMassMutualRetireSMART2025Fund column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAnnualTotalReturnsMassMutualRetireSMART2025FundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.massmutual.com/role/ScheduleAverageAnnualTotalReturnsTransposedMassMutualRetireSMART2025Fund column period compact * ~</div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
After-tax returns are shown for Class A only. After-tax returns for other classes will vary.
March 31, 2014
Highest Quarter:
2012-03-31
0.1083
Lowest Quarter:
2011-09-30
-0.1487
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
<div style="display:none">~ http://www.massmutual.com/role/ScheduleShareholderFeesMassMutualRetireSMART2050Fund column period compact * ~</div>
<b>MassMutual RetireSMART<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">SM</sup> 2015 Fund </b>
March 31, 2014
The Fund seeks to achieve high current income and,
as a secondary objective, capital appreciation.
March 31, 2014
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund’s inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the “Predecessor Account”); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge.
Average annual total returns for Class A shares of the Fund reflect any applicable sales charge. Performance for shares of the Fund for periods prior to the Fund’s inception date (06/20/11) is based on the performance of a predecessor MassMutual separate investment account with substantially the same investment objective, policies, and investment strategies as those of the Fund (the “Predecessor Account”); in the case of Class A shares of the Fund, the average annual returns have been adjusted to reflect the deduction of any applicable Class A sales charge.
<b>INVESTMENT OBJECTIVE </b>
Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
Because Total Annual Fund Operating Expenses include Acquired Fund fees and expenses, they may not correspond to the ratios of expenses to average daily net assets shown in the “Financial Highlights” tables in the Prospectus, which reflect the operating expenses of the Fund and do not include Acquired Fund fees and expenses.
March 31, 2014
Performance for Class A and Class N shares of the Fund reflects any applicable sales charge.
March 31, 2014
Going forward, the Fund’s performance benchmark index will be the Russell 1000 Value Index rather than the S&P 500 Index because the Russell 1000 Value Index more closely represents the Fund’s current investment strategy.
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 68% of the average value of its portfolio.
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Class S shares. The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes. Performance for Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date performance information is available at http://www.massmutual.com/funds or by calling 1-888-309-3539.
<b>INVESTMENT OBJECTIVE </b>
The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance (S&P 500<sup>®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (Barclays U.S. Aggregate Bond Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to equity investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), Barclays U.S. Aggregate Bond, and Citigroup 3-Month US T-Bill Indexes.
The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500<sup >®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup>®</sup> EAFE<sup>®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup>®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup >®</sup> EAFE<sup>®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500® Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI® EAFE®, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 year, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 and 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
The table shows how the Fund’s average annual returns for 1 year, 5 years, and since inception, compare with those of a broad measure of market performance (S&P 500<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> Index) and additional indexes, including an index that provides a comparison relevant to the Fund’s allocation to fixed income investments, an index of funds with similar investment objectives, and a hypothetical custom index which comprises the MSCI<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup> EAFE<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, Dow Jones Wilshire 5000 (full cap), and Barclays U.S. Aggregate Bond Indexes.
<b>MassMutual Select Large Cap Value Fund </b>
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.
Other expenses have been restated to reflect an increase to the contractual administrative and shareholder services fees paid to MassMutual for the current fiscal year and Acquired Fund fees and expenses of the Fund have been restated to reflect expenses for the current fiscal year.