The election id is not deleted automatically, manually, or otherwise.
This does bring up a related issue, however (I wasn't going to bring this up until the 1.12.1 release). The 1.12.1 release of GEMS will have a new button on the election setup dialog to change the election id. Currently, many jurisdictions set up "template" databases with their precincts and districts, and then copy the template to create new elections. The problem with doing this has been that the election id remains the same between elections, so you loose the ability to reject cards fed from previous elections into memory cards of the current election. This is not a huge problem in practice, but it certainly defeats the purpose of the election id. After 1.12.1, jurisdictions that use this approach should change their election id manually when creating new elections based on a previous.