S procedures and provisions. (i) All applications for non-ERIP LACERS retirements submitted by persons eligible for the ERIP, and still pending as of the beginning of the forty-five (45)-day ERIP window period, shall be held in abeyance for the duration of the forty-five (45)-day ERIP window period. Such ERIP-eligible persons may elect to submit an ERIP Election Form, or, alternatively, they may wait until after the forty-five (45)-day ERIP window period has expired, at which point their non-ERIP retirement applications shall continue to be processed. Such ERIP-eligible persons who elect to submit an ERIP Election Form shall not receive priority with respect to being within the 2,400 person ERIP limit, and shall not receive priority with respect to being within a Limited Classification’s ERIP limitation number. (8) Accumulated Sick and Vacation Time is not payable to persons retiring under the ERIP, and such persons shall not be entitled to a payment of Accumulated Sick and Vacation Time upon retirement. In addition to the ERIP benefits set forth below in Section 4.1033(b), which include the Separation Payments in Sections 4.1033(b)(4)(i) and 4.1033(b)(6), persons retiring under the ERIP shall receive a severance payment in the amount of what would be the person’s Accumulated Sick and Vacation Time payment if the person were retiring pursuant to standard, non-ERIP retirement policies and procedures (Severance Payment). This Severance Payment and the applicable Separation Payment, as set forth below in Sections 4.1033(b)(4)(i) and 4.1033(b)(6), shall be paid over two separate calendar years, with the City selecting the payment dates. This Severance Payment and the applicable Separation Payment, as set forth below in Sections 4.1033(b)(4)(i) and 4.1033(b)(6), shall constitute, and be administered as, a Bona Fide Separation Pay Plan under Internal Revenue Code Section 457(e)(11) because (A) these payments are payable only to a person who has submitted an ERIP Election Form during the forty-five (45)-day ERIP window period and who actually has a severance from employment pursuant to the ERIP;