Common use of Effective Date of New Election Clause in Contracts

Effective Date of New Election. A Participant entitled to make a new election under this Section must do so within thirty (30) days of the applicable event described in paragraphs (a) – (f) of this Section 5.07. An Employee who is eligible to elect a portion of his salary reduction to pay for his share of the cost of coverage under any of the benefit plans described in Article VI, but who declined to do so during the initial election period or any open enrollment period, may do so within thirty (30) days of an event described above, but only if the election is made on account of and is consistent with the event. Subject to the provisions of the benefit plans described in Article VI, elections made to add medical coverage for a newborn or newly-adopted Dependent child pursuant to an HIPAA special enrollment right may be retroactive up to thirty (30) days. All other new elections shall be effective no sooner than the first day of the payroll period coincident with or immediate following the date the Participant files his new election with the Plan Administrator. Elections made pursuant to this Section shall be effective for the balance of the Plan Year in which the election is made unless a subsequent event (described above) allows a further election change.