Originally Posted by
nwaf16dude
The 18k is your personal pre-tax contribution limit. It counts against the 415 max of 53000. So if you contribute 18, the company deferred tax max DC contribution is 35000. If 15% of your income exceeds that amount, you get the amount over 35000 as normal taxable income. If you are over 50, or turning 50 this year, you can put in an additional 6000 in pre-tax catch-up contributions that does not count against the 53000.
Actually, the $6000 DOES COUNT against the limit - the $53000 is an absolute limit. If you contribute your full $24K to the 401K then the DC plan will go in until reaching your limit of $53K and then any extra money will start getting paid out to you as salary - reread the 401K rules.