(5) Definitions and special rules For purposes of this subsection— (A) Qualified participant The term “qualified participant” means an individual who— (i) is an active participant, (ii) is a participant or beneficiary in pay status as of the termination date, (iii) is a participant not described in clause (i) or (ii)— (I) who has a nonforfeitable right to an accrued benefit under the terminated plan as of the termination date, and (II) whose service, which was creditable under the terminated plan, terminated during the period beginning 3 years before the termination date and ending with the date on which the final distribution of assets occurs, or (iv) is a beneficiary of a participant described in clause (iii)(II) and has a nonforfeitable right to an accrued benefit under the terminated plan as of the termination date. (B) Present value Present value shall be determined as of the termination date and on the same basis as liabilities of the plan are determined on termination. (C) Reallocation of increase Except as provided in paragraph (2)(C), if any benefit increase is reduced by reason of the last sentence of paragraph (3)(A)(ii) or paragraph (4), the amount of such reduction shall be allocated to the remaining participants on the same basis as other increases (and shall be treated as meeting any allocation requirement of this subsection). (D) Plans taken into account For purposes of determining whether there is a qualified replacement plan under paragraph (2), the Secretary may provide that— (i) 2 or more plans may be treated as 1 plan, or (ii) a plan of a successor employer may be taken into account. (E) Special rule for participation requirement For purposes of paragraph (2)(A), all employers treated as 1 employer under section 414(b), (c), (m), or (o) shall be treated as 1 employer.