; (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; and (D) an annual notification to each participant describing the participant’s benefits under the plan and explaining that such benefits may be subject to reduction under a realignment program pursuant to section 803 based on the plan’s funded status in future plan years