"Election" in Catholicism vs. Calvinism (#318)

Last week, those who have prepared to enter the Catholic Church at Easter attended the "Rite of Election" at their local cathedral. The "catechumens," those who will be baptized at Easter signed the "Book of the Elect" along with the bishop. What does "election" and "the elect" mean? And how does the Catholic Church's use of these New Testament terms differ from how they are used in Reformed theology (Calvinism)?

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