Fund performance - Live Mutual – MassMutual

MASSMUTUAL IRA

An Investors Guide to MassMutual Funds

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INVEST INSURE RETIRE

You Want to Know that You've Chosen Wisely

Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates bring strong investment know-how and active monitoring to each mutual fund in your IRA. We regularly monitor the managers responsible for the day-to-day portfolio management of each fund, scrutinizing them on a variety of critical factors. In addition, these expert managers are responsive to the fact that MassMutual demands adherence to the highest ethical investing and business practices. If you have a great deal of investment know-how or none at all, you will find a robust combination of expertise, services and support to help you build your retirement portfolio. MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries. Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at .

Before investing in any of the MassMutual Premier Funds and MassMutual Select Funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. The fund's prospectus contains this and other information about the fund. You may obtain the prospectuses by calling a MassMutual IRA Specialist at 1-877-747-6277. Read the prospectuses carefully before investing.

Experience You Can Count On

Proven Expertise

We know it's your money. You want stable, long-term results with reasonable risk. MassMutual oversees investment options managed by more than 25 investment companies. This sub-advised approach enables you to take advantage of our comprehensive expertise ? an expertise sharpened by years of providing retirement investment strategies to more than 5,000 institutional clients and more than 800,000 individual investors. We apply stringent performance criteria as part of a rigorous selection and monitoring process to build and oversee the sub-advised funds in our program.

Quality Choice

Our sub-advised approach gives you access to some of the best money managers available. We start with a large universe of possible managers. We look at where they're going, in addition to where they've been. We narrow our selections and get to know the investment managers face-to-face. We assess their style, culture and team dynamics. And we hold them accountable for results. We provide you with choice without clutter.

The sub-advised MassMutual Funds are composed of two families: MassMutual Select Funds and MassMutual Premier Funds. Select Funds are managed by unaffiliated managers. Premier Funds are managed by MassMutual affiliates OppenheimerFunds, Inc., Baring International Investment Limited, and Babson Capital Management. We make this distinction between affiliated and unaffiliated managers because we believe it is something you would like to know.

Comprehensive Oversight

We know you demand the best. That's why our portfolio managers of the MassMutual Funds are subject to ongoing monitoring and regular scrutiny to make sure they continue to manage their portfolios in the intended style. Through our sub-advised approach, MassMutual serves as the investment manager and hires specialized fund managers to handle day-to-day investment management. We know you demand checks and balances. That's why our team goes even further. We provide an additional layer of proprietary oversight through our due diligence process. We also rely on outside sources like Kanon Bloch Carr? (KBC) and Morningstar for data to help us support your investment needs. Providing you with comprehensive oversight is why we believe a sub-advised approach makes sense.

A Single Solution

We know that each investor is different ? from the confident investor to the saver who wants the experts to do the work and everyone in-between. If you are looking for expert help or may not have the time or confidence to design your own portfolio, we've made it easy with our MassMutual EasyChoiceSM IRA program. With the MassMutual EasyChoiceSM IRA program, you can choose one of our MassMutual Select Destination Retirement Series of Funds ? single solutions that combine professional management and monitoring with diversification all in one investment. Each option has an automatic process that invests more conservatively as retirement nears.

By selecting MassMutual Funds, you gain more than peace of mind, you receive a program that is easy to implement and manage. Put MassMutual to work for you.

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MassMutual EasyChoiceSM IRA

MassMutual Select Destination Retirement Series

The EasyChoice IRA program gives you access to the MassMutual Select Destination Retirement Series. Each of these funds provides an alternative investment solution that offers you investment management and monitoring as well as diversification. The most important feature of the Select Destination Retirement Series options is a professionally managed, risk-controlled automatic roll down process that seamlessly invests more conservatively as retirement nears.

A Simplified Approach

Each Select Destination Retirement investment is composed of a chosen mix of other MassMutual Funds which bring with them an additional layer of supervision and due diligence. Each single investment solution offers diversity through multiple asset classes, investment styles and managers. These fund solutions offer professional management and automatic rebalancing whereby MassMutual periodically adjusts each fund's asset mix between stock funds and bond/money market funds over time to reflect your need to invest more conservatively up to and during retirement. Each fund invests in a varying combination of MassMutual Funds listed on the following pages. In addition to fund expenses, an investor may be subject to the expenses associated with the funds included in the portfolio.

The Destination Retirement Investment Series

MassMutual's Destination Retirement series gives you an all-in-one investment solution. Just determine your retirement date, and our automatic roll down process seamlessly invests more conservatively as that date approaches.

? Each option is named to coincide with future retirement dates: 2010 Fund, 2020 Fund, and so on, with risk-appropriate allocations in each

? Chosen from MassMutual Funds which carry an additional layer of supervision and due diligence

? Offer diversity through multiple asset classes, investment styles, and managers

Select Destination Retirement

2040 Fund 1

3%

97%

Select Destination Retirement

2030 Fund

20%

80%

Select Destination Retirement

2020 Fund

44% 56%

Select Destination Retirement

2010 Fund

37% 63%

Select Destination Retirement

Income Fund

25%

75%

2036 ? 2045

2026 ? 2035

Stock Funds Bond/Money Market Funds

2016 ? 2025

Retirement Year

2008 ? 2015

Before 2008

The MassMutual IRA should not be considered as a complete retirement solution. When planning for retirement, you should also think about factors, such as your total assets, your income needs, life insurance and health insurance needs, as well as planning for emergencies. Before investing in the MassMutual IRA, please be sure to determine whether an IRA asset is appropriate for you by considering several factors such as, your objectives, time horizon, risk tolerance, retirement needs, and income needs. Your MassMutual IRA value will fluctuate based on market performance, and when redeemed, may be worth less than the original cost.

1A significant percentage of the underlying investments in this strategy have a higher than average risk exposure. Investors should consider their risk tolerance carefully before choosing such a strategy. 2

MassMutual Funds

It's easy to choose investments, plus you can rest easy knowing the MassMutual Funds select from managers that are standouts in their particular investment approach, putting together a team that works for you.

A Broad Range of Choices

Money Market & Bond Funds

MONEY MARKET ? Premier Money

Market Fund

(Babson Capital)

BOND ? Premier Short-

Duration Bond Fund

(Babson Capital)

? Premier InflationProtected Bond Fund

(Babson Capital)

? Premier Core Bond Fund (Babson

Capital)

? Premier Diversified Bond Fund

(Babson Capital)

? Select Strategic Bond Fund

(Western Asset)

? Premier Strategic Income Fund

(OFI)

? Premier High Yield Fund (Babson

Capital)

Lifestyle/Asset Allocation

BALANCED

? Premier Balanced Fund

(Babson Capital)

? Select Strategic Balanced Fund

(ClearBridge/Western Asset)

LIFESTYLE/ASSET ALLOCATION

? Select Destination Retirement Income Fund1

? Select Destination Retirement 2010 Fund1

? Select Destination Retirement 2020 Fund1

? Select Destination Retirement 2030 Fund1

? Select Destination Retirement 2040 Fund1

Value

LARGE CAP

? Premier Value Fund

(OFI Institutional)

? Select Diversified Value Fund

(AllianceBernstein)

? Select Large Cap Value Fund

(Davis Advisors)

? Select Fundamental Value Fund

(Wellington)

? Premier Enhanced Index Value Fund

(Babson Capital)

? Select Value Equity Fund

(Fidelity)

SMALL/MID CAP

? Premier Small Company Opportunities Fund

(OFI Institutional)

? Select Focused Value Fund

(Harris/Cooke & Bieler)

? Select Small Company Value Fund

(Clover/T. Rowe Price/ EARNEST)

? Premier Main Street Small Cap Fund

(OFI)

? Select Small Cap Value Equity Fund

(SSgA)

? Premier Small Capitalization Value Fund

(OFI Institutional)

? Premier Discovery Value Fund

(OFI Institutional)

? Select Mid-Cap Value Fund (Cooke & Bieler)

Stock Funds

Core & Specialty

LARGE CAP CORE ? Select Indexed

Equity Fund

(Northern Trust)

? Premier Main Street Fund

(OFI)

? Select Core Opportunities Fund

(Victory)

? Premier Enhanced Index Core Equity Fund

(Babson Capital)

SPECIALTY ? Select OTC 100

Fund

(Northern Trust)

Growth

International/Global

LARGE CAP

? Select Growth Equity Fund (GMO)

? Select Blue Chip Growth Fund

(T. Rowe Price)

? Premier Capital Appreciation Fund

(OFI)

? Select Aggressive Growth Fund

(Sands/Delaware)

? Premier Core Growth Fund

(OFI Institutional)

? Select Large Cap Growth Fund

(AllianceBernstein)

? Premier Enhanced Index Growth Fund

(Babson Capital)

SMALL/MID CAP

? Select Mid Cap Growth Equity Fund (Navellier)

? Select Mid Cap Growth Equity II Fund (T. Rowe Price)

? Select Small Cap Growth Equity Fund (Waddell &

Reed/Wellington)

? Select Small Company Growth Fund (Mazama/Eagle)

? Select Small Cap Core Equity Fund

(Goldman Sachs)

? Select Emerging Growth Fund

(Insight/Delaware)

INTERNATIONAL

? Premier International Equity Fund (OFI)

? Premier Focused International Fund

(Baring)

? Select Diversified International Fund

(AllianceBernstein)

GLOBAL

? Select Overseas Fund (MFS/Harris)

? Premier Global Fund (OFI)

1MassMutual Select Destination Retirement Series Funds invest in other MassMutual Premier Funds and MassMutual Select Funds.

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