Abbott Laboratories' has a defined benefit retirement plan. The company's 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 What is the funded status of this plan? Select one: A. The plan is underfunded by $975 million B. The plan is overfunded by $975 million C. The plan is underfunded by $8,517 million D. The plan is overfunded by $7,542 million E. None of the above