If employee's max 401 (k) deferral (assuming under age 50) is 20,500 and
employer matched 100% for another 20,500, that's 41,000.
If employer matched 6% of employee's salary of 300,000 = 18,000 plus the deferral of 20,500 that's 38,500
How does employee get to the 61,000 maximum contribution limit ?
If employer was just being generous and put in 40,500 (61,000 - 20,500), wouldn't employer have to do the same for all employees?
I'm not a 401 (k) plan expert, obviously ?