1. Short title This Act may be cited as the Giving Retirement Options to Workers Act of 2018 or the GROW Act . 2. Composite plans (a) Amendment to the Employee Retirement Income Security Act of 1974 (1) In general Title I of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1001 et seq.) is amended by adding at the end the following: 8 Composite Plans and Legacy Plans 801. Composite plan defined (a) In general For purposes of this Act, the term composite plan means a pension plan— (1) which is a multiemployer plan that is neither a defined benefit plan nor a defined contribution plan; (2) the terms of which provide that the plan is a composite plan for purposes of this title with respect to which not more than one multiemployer defined benefit plan is treated as a legacy plan within the meaning of section 805, unless there is more than one legacy plan following a merger of composite plans under section 806; (3) which provides systematically for the payment of benefits— (A) objectively calculated pursuant to a formula enumerated in the plan document with respect to plan participants after retirement, for life; and (B) in the form of life annuities, except for benefits which under section 203(e) may be immediately distributed without the consent of the participant; (4) for which the plan contributions for the first plan year are at least 120 percent of the normal cost for the plan year; (5) which requires— (A) an annual valuation of the liability of the plan as of a date within the plan year to which the valuation refers or within one month prior to the beginning of such year; (B) an annual actuarial determination of the plan’s current funded ratio and projected funded ratio under section 802(a); (C) corrective action through a realignment program pursuant to section 803 whenever the plan’s projected funded ratio is below 120 percent for the plan year