1. Abbott Laboratories has a defined benefit retirement plan. The companys 2016 annual report includes the following excerpt about these plans (in millions):

Projected benefit obligations, January 1, 2016	$7,820
Service cost benefits earned during the year	263
Interest cost on projected benefit obligations	288
Actuarial losses (gains)	645
Benefits paid	(242)
Other, including foreign currency translation	(257)
Projected benefit obligations, December 31, 2016	$8,517
Plans' assets at fair value, January 1, 2016	$6,772
Actual return on plan assets	631
Company contributions	582
Benefits paid	(242)
Other, including foreign currency translation	(201)
Plan assets at fair value, December 31, 2016	$7,542

1. What is the funded status of this plan?
2. By how much is the plan over or underfunded?