# EDGAR Filing Document

**Accession Number:** 0001317146
**File Stem:** 0001133228-26-006199
**Filing Date:** 2026-4
**Character Count:** 15151
**Document Hash:** 9e02c01702a36ac15664c0cdde317670
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-006199.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0001133228-26-006199

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MML Series Investment Fund II
- **CENTRAL INDEX KEY:** 0001317146

**ORGANIZATION NAME:**
- **EIN:** 043557005
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-122804
- **FILM NUMBER:** 26889459

**BUSINESS ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111
- **BUSINESS PHONE:** 413-744-1000

**MAIL ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111

## Series and Classes Contracts Data

### MML U.S. Government Money Market Fund (Series ID: S000003835)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000010691 | Initial Class |  |

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| | |
|:---|:---|
| ![](sp960img002.jpg)<br>| **Summary Prospectus** April 24, 2026 |

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MML Series Investment Fund II

**MML VIP Barings U.S. Government Money Market Fund**<br>**(formerly known as MML U.S. Government Money Market Fund)**

Initial Class

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund online at https://www.massmutual.com/product-performance/variable-insurance-funds. You can also get this information at no cost by calling 1-888-309-3539 or by sending an email request to fundinfo@massmutual.com.

**INVESTMENT OBJECTIVE**

This Fund seeks current income consistent with preservation of capital and liquidity.

**FEES AND EXPENSES OF THE FUND**

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. The expenses in the table do not reflect deductions at the separate account level or contract level for any charges that may be incurred under a variable life insurance or variable annuity contract. If these charges were reflected, the fees and expenses in the table would be higher.

**Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment)

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| | |
|:---|:---|
|  | **Initial Class** |
| Management Fees | 0.48% |
| Distribution and Service (Rule 12b-1) Fees |  |
| Other Expenses | 0.04% |
| **Total Annual Fund Operating Expenses** | **0.52%** |

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**Example**

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment earns a 5% return each year and that the Fund's operating expenses are exactly as described in the preceding table. If separate account or variable life insurance or variable annuity contract expenses were included, overall expenses would be higher. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| Initial Class | $53 | $167 | $291 | $653 |

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**INVESTMENTS, RISKS, AND PERFORMANCE**

**Principal Investment Strategies**

The Fund normally invests at least 99.5% of its total assets in cash, U.S. Government securities, and/or repurchase agreements fully collateralized by cash or U.S. Government securities.

In managing the Fund, the Fund's subadviser, *Barings LLC* ("Barings"), intends to comply with Rule 2a-7 under the Investment Company Act of 1940, as amended (the "1940 Act"), which sets forth the requirements for money market funds regarding credit quality, diversification, liquidity, and maturity. The Fund seeks to maintain, but does not guarantee, a stable $1.00 share price.

Under normal circumstances, the Fund invests at least 80% of its net assets in U.S. Government securities and repurchase agreements that are fully collateralized by U.S. Government securities. U.S. Government securities are high-quality securities issued or guaranteed by the U.S. Treasury or by an agency or instrumentality of the U.S. Government. U.S. Government securities may be backed by the full faith and credit of the U.S. Treasury, the right to borrow from the U.S. Treasury, or the agency or instrumentality issuing or guaranteeing the security. Certain issuers of U.S. Government securities, including Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, are sponsored or chartered by Congress but their securities are neither issued nor guaranteed by the U.S. Treasury.

**Principal Risks**

**You could lose money by investing in the Fund.** **Although the Fund seeks to preserve the value of your** **investment at $1.00 per share, it cannot guarantee it** **will do so. An investment in the Fund is not a bank** 

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**account and is not insured or guaranteed by the** **Federal Deposit Insurance Corporation or any other** **government agency. The Fund's sponsor is not** **required to reimburse the Fund for losses, and you** **should not expect that the sponsor will provide** **financial support to the Fund at any time, including** **during periods of market stress.**

Certain risks relating to instruments and strategies used in the management of the Fund are placed first. The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund's portfolio, market conditions, and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the Fund.

***Money Market Instruments Risk*** The value of a money market instrument typically will decline during periods of rising interest rates, and can also decline in response to changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral assets, or changes in market, economic, industry, political, regulatory, public health, and other conditions affecting a particular type of security or issuer or fixed income securities generally.

***U.S. Government Securities Risk*** Obligations of certain U.S. Government agencies and instrumentalities are not backed by the full faith and credit of the U.S. Government, and there can be no assurance that the U.S. Government would provide financial support to such agencies and instrumentalities.

***Repurchase Agreement Risk*** These transactions must be fully collateralized, but involve credit risk to a Fund if the other party should default on its obligation and the Fund is delayed or prevented from recovering the collateral.

***Credit Risk*** Credit risk is the risk that an issuer, guarantor, or liquidity provider of a fixed income security held by the Fund may be unable or unwilling, or may be perceived (whether by market participants, ratings agencies, pricing services or otherwise) as unable or unwilling, to make timely principal and/or interest payments, or to otherwise honor its obligations. The Fund may also be exposed to the credit risk of its counterparty to repurchase agreements, reverse repurchase agreements, swap transactions, and other derivatives transactions, and to the counterparty's ability or willingness to perform in accordance with the terms of the transaction. The value of such transactions to the Fund will depend on the willingness and ability of the counterparty to perform its obligations,

including among other things the obligation to return collateral or margin to the Fund. If a counterparty becomes bankrupt or otherwise fails to perform its obligations under a derivative contract due to financial difficulties, the Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding. The Fund may obtain only a limited recovery or may obtain no recovery in such circumstances.

***Inflation Risk*** The value of assets or income from the Fund's investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund's assets can decline as can the value of the Fund's distributions. Inflation rates may change frequently and drastically as a result of various factors, including unexpected shifts in the domestic or global economy (or expectations that such policies will change), and the Fund's investments may not keep pace with inflation, which may result in losses to the Fund's investors.

***Liquidity Risk*** Certain securities may be difficult (or impossible) to sell or certain positions may be difficult to close out at a desirable time and price, and the Fund may be required to hold an illiquid investment that is declining in value, or it may be required to sell certain illiquid investments at a price or time that is not advantageous in order to meet redemptions or other cash needs. Some securities may be subject to restrictions on resale. There can be no assurance that there will be a liquid market for instruments held by the Fund at any time. The Fund may not receive the proceeds from the sale of certain investments for an extended period.

***Management and Operational Risk*** The Fund relies on the manager's investment analysis and its selection of investments to achieve its investment objective, and the Fund is subject to the risk that the manager's assessment of an investment is wrong. There can be no assurance that the Fund will achieve the intended results and the Fund may incur significant losses. The Fund also runs the risk that deficiencies in the investment adviser's, subadviser's, or another service provider's internal systems or controls will cause losses for the Fund or impair Fund operations.

***Market Risk*** The value of the Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock and bond markets can decline significantly in response to issuer, market, economic, industry, political,

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regulatory, geopolitical, public health, and other conditions, as well as investor perceptions of these conditions. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.

***Prepayment Risk*** Prepayment risk is the risk that principal of a debt obligation will be repaid at a faster rate than anticipated. In such a case, a Fund may lose the benefit of a favorable interest rate for the remainder of the term of the security in question, and may only be able to reinvest the amount of the prepayment at a less favorable rate.

***Valuation Risk*** The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.

**Performance Information**

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Initial Class shares. The table shows how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance and an additional index that MML Advisers believes more closely reflects the market segments in which the Fund invests (FTSE 3 Month US T Bill Index). The Fund's name, investment objective, and investment strategy changed on May 1, 2016 when the Fund changed from a money market fund to a government money market fund. Performance results shown were achieved when the Fund could invest in types of securities that it is no longer able to hold. Future performance of the Fund may be lower as a result. Performance shown does not reflect the fees and expenses deducted under the variable life insurance or variable annuity contract through which you invest in the Fund. If these amounts were reflected, returns would be less than those shown. Past performance is not necessarily an indication of how the Fund will perform in the future.

**Annual Performance**

**Initial Class Shares**

<br>![](sp960img001.jpg)

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| | | | | |
|:---|:---|:---|:---|:---|
| Highest<br>Quarter: | 4Q '23, | 1.26% | Lowest<br>Quarter: | 1Q '16;<br>3Q '16 thru 4Q '16;<br>2Q '20 thru 1Q '22, 0.00% |

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**Average Annual Total Returns**<br>(for the periods ended December 31, 2025)

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| | | | |
|:---|:---|:---|:---|
|  | **One** **Year** | **Five** **Years** | **Ten**<br>**Years** |
| Initial Class | 3.79% | 2.87% | 1.80% |
| Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes) | 7.30% | -0.36% | 2.01% |
| FTSE 3 Month US T Bill Index (reflects no deduction for fees, expenses, or taxes) | 4.40% | 3.31% | 2.23% |

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**MANAGEMENT**

**Investment Adviser:** MML Investment Advisers, LLC ("MML Advisers")

**Subadviser(s):** Barings LLC ("Barings")

**Portfolio Manager(s):**

**Adam Cash** is a Director and member of Barings' Trading Solutions Group. He has managed the Fund since May 2022.

**Scott Simler** is a Senior Director and member of Barings' Trading Solutions Group. He has managed the Fund since July 2009.

**PURCHASE AND SALE OF FUND SHARES**

Shares of the Fund are generally available to separate investment accounts of variable life insurance and variable annuity contracts offered by companies such as MassMutual. An investor should consult the company issuing the investor's variable life insurance or variable annuity contract to determine how to make redemptions.

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**TAX INFORMATION**

Dividends and capital gain distributions are paid to the insurance company separate accounts. Variable life insurance and variable annuity contract owners should refer to the variable life insurance or variable annuity product prospectus or consult with their own tax adviser for information regarding the tax consequences of their investment.

**PAYMENTS TO INSURANCE COMPANIES** **AND THEIR AFFILIATES**

The Fund is not sold directly to the general public but instead is offered as an underlying investment option for variable insurance contracts. The Fund and its related companies may make payments to

the sponsoring insurance company (or its affiliates) or other intermediary for distribution and/or other services. These payments may be a factor that the insurance company considers in including the Fund as an underlying investment option in the variable insurance contract or may create a conflict of interest by influencing the insurance company or other intermediary to recommend the variable insurance contract over another investment. The prospectus (or other offering document) for your variable insurance contract may contain additional information about these payments.

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