The funded status of the 100 largest corporate defined benefit pension plans increased by $14 billion during June as measured by the Milliman 100 Pension Funding Index (PFI). The deficit fell to $252 billion from $266 billion at the end of May, due to investment gains. As of June 30, the funded ratio rose to 85.3%, up from 84.5% at the end of May. However, the funded ratio has still declined from 88.3% as of December 31, 2013. June was the first month in 2014 when discount rates increased, but only by 0.02%. Fortunately, the strong year-to-date asset performance has mitigated deeper funded status erosion.