; and (iii) by adding at the end the following: (B) Special requirements for multiemployer plans Subparagraph (A) does not apply to any multiemployer plan with respect to any transaction to the extent that participants either before or after the transaction are covered under a multiemployer plan to which title IV of the Employee Retirement Income Security Act of 1974 applies or a composite plan. . (d) Requirements for status as a qualified plan (1) Requirement that actuarial assumptions be specified Section 401(a)(25) of the Internal Revenue Code of 1986 is amended by inserting (in the case of a composite plan, benefits objectively calculated pursuant to a formula) after definitely determinable benefits . (2) Missing participants in terminating composite plan Section 401(a)(34) of the Internal Revenue Code of 1986 is amended by striking , a trust and inserting or a composite plan, a trust . (e) Deduction for contributions to a qualified plan Section 404(a)(1) of the Internal Revenue Code of 1986 is amended by redesignating subparagraph (E) as subparagraph (F) and by inserting after subparagraph (D) the following: (E) Composite plans (i) In general In the case of a composite plan, subparagraph (D) shall not apply and the maximum amount deductible for a plan year shall be the excess (if any) of— (I) 160 percent of the greater of— (aa) the current liability of the plan determined in accordance with the principles of section 431(c)(6)(D), or (bb) the present value of plan liabilities as determined under section 438, over (II) the fair market value of the plan’s assets, projected to the end of the plan year. (ii) Special rules for predecessor multiemployer plan to composite plan (I) In general Except as provided in subclause (II), if an employer contributes to a composite plan with respect to its employees, contributions by that employer to a multiemployer defined benefit plan with respect to some or all of the same group of employees shall be deductible under sections 162 and this section, subject to the limits in