According to the summary of a recent board meeting, the U.S. Financial Accounting Standards Board (FASB) has decided to exclude certain pension and deferred compensation plans from the definition of financial instruments included in its Accounting Standards Codification project. The Board decided that the scope of the project would include all financial instruments as defined in the master glossary of the FASB Accounting Standards Codification, except employers' and plans' obligations for pension benefits; other postretirement benefits, including health care and life insurance benefits; postemployment benefits, employee stock option and stock purchase plans; and other forms of deferred compensation arrangements. FASB excluded these benefits due to their need for special attention.