The Department of Commerce today postponed for a second time its September 2007 letter that would require annualization of prevailing wage pension contributions for purposes of Ohio prevailing wage fringe benefit credit. The letter now ostensibly takes effect on April 1, 2008. However, Ohio Associated Builders and Contractors has learned that the purpose of this second extension is to allow the Governor’s office additional time to review proposed changes to the prevailing wage regulations that would permanently permit fringe benefit credit for prevailing wage pension contributions, up to the pension amount stated on the applicable prevailing wage schedule, without annualization. For the present, this postponement  effectively maintains the prior, informal Department of Commerce policy allowing merit-shop contractors to take cash-equivalent credit of prevailing wage pension contributions.