EXPENSE LIMITATION AGREEMENT

Exhibit H(47)

EXPENSE LIMITATION AGREEMENT

This EXPENSE LIMITATION AGREEMENT (the “Agreement”) is between MML Investment Advisers, LLC, a Delaware limited liability company (the “Manager”), and MassMutual Select Funds, a Massachusetts business trust (the “Trust”), effective as of the 1^st day of August, 2020.

WHEREAS, the Trust is an open-end management investment company registered as such with the Securities and Exchange Commission (the “SEC”) pursuant to the Investment Company Act of 1940, as amended;

WHEREAS, MassMutual Select X. Xxxx Price Retirement Balanced Fund, MassMutual Select X. Xxxx Price Retirement 2005 Fund, MassMutual Select X. Xxxx Price Retirement 2010 Fund, MassMutual Select X. Xxxx Price Retirement 2015 Fund, MassMutual Select X. Xxxx Price Retirement 2020 Fund, MassMutual Select X. Xxxx Price Retirement 2025 Fund, MassMutual Select X. Xxxx Price Retirement 2030 Fund, MassMutual Select X. Xxxx Price Retirement 2035 Fund, MassMutual Select X. Xxxx Price Retirement 2040 Fund, MassMutual Select X. Xxxx Price Retirement 2045 Fund, MassMutual Select X. Xxxx Price Retirement 2050 Fund, MassMutual Select X. Xxxx Price Retirement 2055 Fund, MassMutual Select X. Xxxx Price Retirement 2060 Fund, MassMutual Select X. Xxxx Price Bond Asset Fund, MassMutual Select X. Xxxx Price Emerging Markets Bond Fund, MassMutual Select X. Xxxx Price Large Cap Blend Fund, MassMutual Select X. Xxxx Price Limited Duration Inflation Focused Bond Fund, MassMutual Select X. Xxxx Price Real Assets Funds, MassMutual Select X. Xxxx Price Small and Mid Cap Blend Fund, MassMutual Select X. Xxxx Price U.S. Treasury Long-Term Fund, and MassMutual Select X. Xxxx Price International Equity Fund (the “Funds”) are each a series of the Trust.

WHEREAS, the Manager is an investment adviser registered with the SEC as such under the Investment Advisers Act of 1940, as amended; and

WHEREAS, the Trust has appointed the Manager as its investment manager for the Funds and the Manager has agreed to act in such capacity upon the terms set forth in the relevant Investment Management Agreements;

NOW THEREFORE, the Trust and the Manager hereby agree as follows:

1. Expense Limitation

The Manager agrees to cap the fees and expenses of each Fund (other than extraordinary legal and other expenses, interest expense, expenses related to borrowings, securities lending, leverage, taxes and brokerage, short sale dividend and loan expense, or other non-recurring or unusual expenses such as organizational expenses and shareholder meeting expenses, as applicable) through January 31, 2022 at the following amounts. This agreement can only be terminated by mutual consent of the Board of Trustees of the Trust on behalf of the Funds and the Manager.

MassMutual Select X. Xxxx Price Retirement Balanced Fund

	Expense Cap
Class I shares	0.33%
Class M5 shares	0.48%
Class M4 shares	0.73%
Class M3 shares	0.98%

MassMutual Select X. Xxxx Price Retirement 2005 Fund

	Expense Cap
Class I shares	0.35%
Class M5 shares	0.50%
Class M4 shares	0.75%
Class M3 shares	1.00%

MassMutual Select X. Xxxx Price Retirement 2010 Fund

	Expense Cap
Class I shares	0.35%
Class M5 shares	0.50%
Class M4 shares	0.75%
Class M3 shares	1.00%

MassMutual Select X. Xxxx Price Retirement 2015 Fund

	Expense Cap
Class I shares	0.39%
Class M5 shares	0.54%
Class M4 shares	0.79%
Class M3 shares	1.04%

MassMutual Select X. Xxxx Price Retirement 2020 Fund

	Expense Cap
Class I shares	0.41%
Class M5 shares	0.56%
Class M4 shares	0.81%
Class M3 shares	1.06%

MassMutual Select X. Xxxx Price Retirement 2025 Fund

	Expense Cap
Class I shares	0.45%
Class M5 shares	0.60%
Class M4 shares	0.85%
Class M3 shares	1.10%

MassMutual Select X. Xxxx Price Retirement 2030 Fund

	Expense Cap
Class I shares	0.48%
Class M5 shares	0.63%
Class M4 shares	0.88%
Class M3 shares	1.13%

MassMutual Select X. Xxxx Price Retirement 2035 Fund

	Expense Cap
Class I shares	0.49%
Class M5 shares	0.66%
Class M4 shares	0.91%
Class M3 shares	1.16%

MassMutual Select X. Xxxx Price Retirement 2040 Fund

	Expense Cap
Class I shares	0.50%
Class M5 shares	0.68%
Class M4 shares	0.93%
Class M3 shares	1.18%

MassMutual Select X. Xxxx Price Retirement 2045 Fund

	Expense Cap
Class I shares	0.50%
Class M5 shares	0.70%
Class M4 shares	0.95%
Class M3 shares	1.20%

MassMutual Select X. Xxxx Price Retirement 2050 Fund

	Expense Cap
Class I shares	0.51%
Class M5 shares	0.70%
Class M4 shares	0.95%
Class M3 shares	1.20%

MassMutual Select X. Xxxx Price Retirement 2055 Fund

	Expense Cap
Class I shares	0.51%
Class M5 shares	0.70%
Class M4 shares	0.95%
Class M3 shares	1.20%

MassMutual Select X. Xxxx Price Retirement 2060 Fund

	Expense Cap
Class I shares	0.51%
Class M5 shares	0.70%
Class M4 shares	0.95%
Class M3 shares	1.20%

2. Expense Limitation

The Manager agrees to cap the fees and expenses of each Fund (other than extraordinary legal and other expenses, Acquired Fund Fees and Expenses, interest expense, expenses related to borrowings, securities lending, leverage, taxes, and brokerage, short sale dividend and loan expense, or other non-recurring or unusual expenses such as organizational expenses and shareholder meeting expenses, as applicable) through January 31, 2022 at the following amounts. This agreement can only be terminated by mutual consent of the Board of Trustees of the Trust on behalf of the Funds and the Manager.

MassMutual Select X. Xxxx Price Bond Asset Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price Emerging Markets Bond Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price International Equity Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price Large Cap Blend Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price Limited Duration Inflation Focused Bond Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price Real Assets Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price Small and Mid Cap Blend Fund

	Expense Cap
Class I shares	0.00%

MassMutual Select X. Xxxx Price U.S. Treasury Long-Term Fund

	Expense Cap
Class I shares	0.00%

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the Trust and the Manager have caused this Agreement to be executed as of the 1^st day of August, 2020.

	MML INVESTMENT ADVISERS, LLC
	By:	/s/ Xxxxxxx Xxxxxx
		Xxxxxxx Xxxxxx, Vice President
	MASSMUTUAL SELECT FUNDS on behalf of each of the Funds
	By:	/s/ Xxxxx Xxxxxxxxx
		Xxxxx Xxxxxxxxx, CFO and Treasurer