It should be pointed out that $52,000 is the maximum annual contribution limit from all sources. The company 15% contributions will stop flowing into your 401k when you reach $260,000 income for the year or $52,000 in total contributions (not counting the $5500 catch up contributions), whichever comes first. When that $52,000 limit is reached the company 15% contribution will continue to be paid to you as taxable income, and you will no longer be eligible to contribute to your 401k (except the $5500 catch up portion.) The company contributions are pensionable whether paid into your 401k or paid as taxable income so it is effectively a 17.25% contribution.

BTW what is "Obama's new pay off the debt bank account?"