Mass Mutual PIMCO Real Return A Due to Senior – – Management turnover at in late 2014. The fund manager did not change and we continue to believe the strategy is sound but want to monitor the firm and strategy more closely over the next several months. PIMCO funds are on the watch list as a precaution. Mass Mutual - Neuberger Berman Social Responsibility Fund A – week 2014 hurt longer-term results. While the fund lags the S& P 500 index, the relative performance versus the large cap blend peer group remains solid. Mass Mutual - Royce Value Plus Svc On the list for – performance reasons. The fund lagged the index in the first quarter. Performance has improved in the beginning of the second quarter and the fund ranks above the median manager. Valic PIMCO Real Return A Due to Senior Management – – turnover at in late 2014. The fund manager did not change and we continue to believe the strategy is sound but want to monitor the firm and strategy more closely over the next several months. PIMCO funds are on the watch list as a precaution. Voya PIMCO Real Return A Due to Senior Management – turnover at in late 2014. The fund manager did not change and we continue to believe the strategy is sound but want to monitor the firm and strategy more closely over the next several months. PIMCO funds are on the watch list as a precaution. IV. Old Business
Mass Mutual – PIMCO Real Return A – Due to Senior Management turnover at in late 2014. The fund manager did not change and we continue to believe the strategy is sound but want to monitor the firm and strategy more closely over the next several months. PIMCO funds are on the watch list as a precaution. Mass Mutual - Neuberger Berman Social Responsibility Fund – A week 2014 hurt longer-term results. While the fund lags the S& P 500 index, the relative performance versus the large cap blend peer group remains solid. Mass Mutual - Royce Value Plus Svc – On the list for performance reasons. The fund lagged the index in the first quarter. Performance has improved in the beginning of the second quarter and the fund ranks above the median manager. Valic – PIMCO Real Return A – Due to Senior Management turnover at in late 2014. The fund manager did not change and we continue to believe the strategy is sound but want to monitor the firm and strategy more closely over the next several months. PIMCO funds are on the watch list as a precaution. Voya – PIMCO Real Return A Due to Senior Management turnover at in late 2014. The fund manager did not change and we continue to believe the strategy is sound but want to monitor the firm and strategy more closely over the next several months. PIMCO funds are on the watch list as a precaution. IV. Old Business
Minutes-6.18.2015.docx