Actually, the 2018 limit is $55k total. You can put in $18,500 yourself and then let Spirit put in the remaining $36,500. Your point remains, however that even in this situation, you’re not likely to exceed the $332,000 income necessary to trigger an excess situation and a cash payout.

Still not a bad provision to have as your pay rates climb [and Company contribution rate?—honestly don’t know, not poking at you] over the life of the contract.

As a side note, the contribution limits and overage limits increase by $6,000 per year starting the year you turn 50.

EDIT: Looks like GoCats beat me to it. Like everything else, I’m late to the party!