I realized I don't fully understand something. It almost embarrassing to admit.
In 2016 we have 18k max contribution limit for 401k. Does this mean that employee can contribute at most 18k or that total contributions made on behalf of employee should not exceed 18k (company match)
To make is simple, if you make 100k, by contributing 18% you got your limit. But if your company matches 5%, actual contributions will be 18.9k. In the above example, if one wants to maximize benefit should one contribute 18% or less?