T. Rowe Price Associates, Inc.

Inception Date


Morningstar Category

Target-Date 2050

Portfolio Managers

  • Jerome A. Clark, CFA | T. Rowe Price Associates, Inc. | Managed the fund since inception
  • Wyatt A. Lee, CFA | T. Rowe Price Associates, Inc. | Managed the fund since inception

Investment Objective

The Fund seeks the highest total return over time consistent with an emphasis on both capital growth and income.

Investment Overview

The Fund is a “fund of funds” and pursues its objective by investing in a diversified portfolio of other stock and bond series of both the MassMutual Select Funds and T. Rowe Price Funds that represent various asset classes and sectors. The Fund is primarily designed for an investor who anticipates retiring at or about the target date and who plans to withdraw the value of the account in the Fund gradually after retirement. At the target date, the Fund’s allocation to stocks is anticipated to be approximately 55% of its assets. The Fund’s exposure to stocks will continue to decline until approximately 30 years after its target date, when its allocation to stocks will remain fixed at approximately 20% of its assets and the remainder will be invested in bonds.

Fund Basics

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Gross Expense Ratio
Net Expense Ratio*
Ticker MMDDX
Gross Expense Ratio 0.66%
Net Expense Ratio 0.56%
Ticker MMDFX
Gross Expense Ratio 0.81%
Net Expense Ratio 0.71%
Ticker MMDGX
Gross Expense Ratio 1.06%
Net Expense Ratio 0.96%
Ticker MMDHX
Gross Expense Ratio 1.31%
Net Expense Ratio 1.21%

* The expenses in the above table reflect a written agreement by MML Advisers to cap the fees and expenses of the Fund (other than extraordinary litigation and legal expenses, interest expense, short sale dividend and loan expense, or other non-recurring or unusual expenses such as organizational expenses and shareholder meeting expenses) through January 31, 2020, to the extent that Total Annual Fund Operating Expenses after Expense Reimbursement would otherwise exceed .56%, .71%, .96%, and 1.21% for Classes I, M5, M4, and M3, respectively. The Total Annual Fund Operating Expenses after Expense Reimbursement shown in the above table may exceed these amounts, because, as noted in the previous sentence, certain fees and expenses are excluded from the cap. The agreement can only be terminated by mutual consent of the Board of Trustees on behalf of the Fund and MML Advisers.

Investment Risk

The Fund’s Principal Risks include - Allocation Risk, Bank Loans Risk, Below Investment Grade Risk, Cash Position Risk, Commodities-Related Investment Risk, Convertible Securities Risk, Credit Risk, Derivatives Risk, Equity Securities Risk, Fixed Income Securities Risk, Foreign Investment Risk; Emerging Markets Risk; Currency Risk, Growth Company Risk, Inflation Risk, Large Company Risk, Leveraging Risk, Liquidity Risk, Management Risk, Market Risk, Mortgage-and Asset-Backed Securities Risk, Preferred Stock Risk, Real Estate Risk; REIT Risk, Repurchase Agreement Risk, Risk of Investment in Other Funds or Pools, Sector Risk, Small and Mid-Cap Company Risk, Sovereign Debt Obligation Risk, U.S. Government Securities Risk, Valuation Risk, and Value Company Risk. Please refer to the prospectus (via the link below or by sending an email to for more information on the specific risks.


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Assets (PDF)