(a) Time off With Pay. Whenever a Tier 2 System Member, for overtime work, shall take a period of time off with pay:
(1) a deduction for pension purposes shall be made from such pay but only in the same amount as that which would have been deducted from his Monthly Salary and additional monthly pay if such period had been one of regular work;
(2) such pay shall be part of his Monthly Salary and additional monthly pay but only in the same amount as that which would have been his Monthly Salary and additional monthly pay if such period had been one of regular work; and
(3) such period shall be part of his Years of Service.
(b) Cash Payment. Whenever a Tier 2 System Member, for overtime work, shall receive a cash payment:
(1) a deduction for pension purposes shall not be made from such payment;
(2) such payment shall not be part of his Monthly Salary and additional monthly pay; and
(3) the period of overtime work for which he shall receive such payment shall not be part of his Years of Service except that any period of a Tier 2 System Member’s overtime work, for which he shall not have taken time off with pay, shall be credited, by the Board, as part of his Years of Service, upon his or his survivor’s written request therefor, to the same extent as he would have been entitled to take time off with pay but only to the extent, and not in excess thereof, that he, while a Department Member, shall have had any period of absence from work without pay, but such request shall be accompanied with payment of the amount which would have been deducted for pension purposes from his Monthly Salary and additional monthly pay if the period of overtime work, to the extent credited, had been one of regular work.