Form 497 MASSMUTUAL SELECT FUNDS

The Fund will normally invest most of its assets in underlying funds advised by MML Advisers, JP Morgan or affiliates of JP Morgan (which may include one or more funds sub-advised by JP Morgan); the Fund will normally not invest more than 20% of its assets in mutual funds not advised by MML Advisers, JP Morgan or companies affiliated with JP Morgan (hereinafter referred to as “unaffiliated” funds). MML Advisors will select Underlying Funds from mutual funds advised by them or by JP Morgan or its affiliates, even though they may have higher expense ratios or less favorable historical performance than non-affiliated funds, and MML advisors will have no obligation to select the cheapest. or the best performing funds available to serve as underlying funds. In addition, MML Advisors will likely seek to invest assets in funds advised or sub-advised by JP Morgan or its affiliates in an amount sufficient to provide an appropriate level of income for JP Morgan. JP Morgan will be subject to a conflict of interest when determining the Fund’s asset allocations, as it could expect to benefit financially from allocating the Fund’s assets to asset classes where MML Advisors would be who may invest in mutual funds advised or sub-advised by JP Morgan or its affiliates. These conflicts of interest may result in a portfolio of underlying funds that achieves a level of return or incurs higher costs that are less favorable to the Fund than if MML Advisers or JP Morgan did not consider these factors or were not subject to such conflicts of interest. . There may be circumstances where MML Advisors’ possession of non-public information regarding an underlying fund will limit the fund’s ability to buy or sell shares of that underlying fund when it otherwise could. , which could adversely affect the investment performance of the underlying fund. Funds.

The table below shows the approximate allocation of the Fund, as of June 23, 2022, between the underlying funds in which the Fund invests 5% or more of its assets. The 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. MML Advisors may, in their sole discretion, change the selection of underlying funds at any time and from time to time, and may invest the fund’s assets in additional or different underlying funds, including funds which may be created in the future. At any time, the Fund’s allocations to underlying funds may be affected by various factors (such as, for example, whether an underlying fund accepts additional investments). Information regarding the Fund’s actual allocations to underlying funds is available in the Fund’s shareholder reports and at https://www.massmutual.com/funds from time to time. A brief description of the underlying funds is included in Schedule D of the Statement of Supplementary Information (“SAI”).

MM Equity Asset Fund

23.03%

Mass Mutual Blue Chip Growth Fund

6.91%

MassMutual Overseas Funds

9.22%

MassMutual International Equity Fund

5.76%

Vanguard Developed Markets Index Fund

8.07%

JPMorgan Emerging Markets Research Enhanced Equity Fund

6.05%

Through its investments in Underlying Funds, the Fund will be exposed to a wide range of securities and other instruments with different characteristics (such as credit quality, duration, geography, sector and market capitalization ), which may include, but are not limited to, equity securities of small, medium, or large capitalization U.S. or non-U.S. issuers (including issuers that may only recently become public companies), fixed income securities of U.S. or non-U.S. corporate or government issuers (including “spam” or “high yield” bonds, including defaulted securities), inflation-protected securities, loans banks and short-term investments of any kind. Equity securities may include common stock, preferred stock, securities convertible into common or preferred stock, real estate investment trusts (“REITs”), rights and warrants. An underlying fund may engage in foreign exchange transactions, including forward contracts, currency options, futures contracts and swap contracts, to take long or short positions in foreign currencies in order to improve the return on its investment or attempt to protect itself against adverse changes. in exchange rates. An underlying fund may be permitted to use a wide variety of other exchange-traded and over-the-counter derivatives, including options, futures, swap contracts (including interest rate swaps, total return swaps and credit default swaps) and hybrid instruments. An underlying fund may generally 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 may not be able to to invest directly or to adjust various portfolio characteristics, including duration (interest rate

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