EXPENSE LIMITATION AGREEMENT

Exhibit H(48)

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 18^th day of October, 2018.

WHEREAS, the Trust is an open-end diversified 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 Large Cap Blend Fund, MassMutual Select X. Xxxx Price Limited Duration Inflation Focused Bond Fund, and MassMutual Select X. Xxxx Price U.S. Treasury Long-Term 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 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, as applicable) through January 31, 2020 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		0.34%
		Class M5 shares		0.49%
		Class M4 shares		0.74%
		Class M3 shares		0.99%

MassMutual Select X. Xxxx Price Retirement 2005 Fund

				Expense Cap
		Class I shares		0.38%
		Class M5 shares		0.53%
		Class M4 shares		0.78%
		Class M3 shares		1.03%

MassMutual Select X. Xxxx Price Retirement 2010 Fund

				Expense Cap
		Class I shares		0.38%
		Class M5 shares		0.53%
		Class M4 shares		0.78%
		Class M3 shares		1.03%

MassMutual Select X. Xxxx Price Retirement 2015 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 2020 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 2025 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 2030 Fund

				Expense Cap
		Class I shares		0.51%
		Class M5 shares		0.66%
		Class M4 shares		0.91%
		Class M3 shares		1.16%

MassMutual Select X. Xxxx Price Retirement 2035 Fund

				Expense Cap
		Class I shares		0.54%
		Class M5 shares		0.69%
		Class M4 shares		0.94%
		Class M3 shares		1.19%

MassMutual Select X. Xxxx Price Retirement 2040 Fund

				Expense Cap
		Class I shares		0.56%
		Class M5 shares		0.71%
		Class M4 shares		0.96%
		Class M3 shares		1.21%

MassMutual Select X. Xxxx Price Retirement 2045 Fund

				Expense Cap
		Class I shares		0.56%
		Class M5 shares		0.71%
		Class M4 shares		0.96%
		Class M3 shares		1.21%

MassMutual Select X. Xxxx Price Retirement 2050 Fund

				Expense Cap
		Class I shares		0.56%
		Class M5 shares		0.71%
		Class M4 shares		0.96%
		Class M3 shares		1.21%

MassMutual Select X. Xxxx Price Retirement 2055 Fund

				Expense Cap
		Class I shares		0.56%
		Class M5 shares		0.71%
		Class M4 shares		0.96%
		Class M3 shares		1.21%

MassMutual Select X. Xxxx Price Retirement 2060 Fund

				Expense Cap
		Class I shares		0.56%
		Class M5 shares		0.71%
		Class M4 shares		0.96%
		Class M3 shares		1.21%

2. Expense Limitation

The Manager agrees to cap the fees and expenses of each Fund (other than extraordinary litigation and legal expenses, Acquired Fund Fees and Expenses, interest expense, 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, 2020 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		0.40%

MassMutual Select X. Xxxx Price Large Cap Blend Fund

				Expense Cap
		Class I shares		0.56%

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

				Expense Cap
		Class I shares		0.15%

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

				Expense Cap
		Class I shares		0.15%

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IN WITNESS WHEREOF, the Trust and the Manager have caused this Agreement to be executed as of the 18^th day of October, 2018.

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