Curious, was that in lieu of doing away with something like a pension plan?Per Fidelity the most common 401K plan is a 100% match up to 3%, then a 50% match up to 5%. So to max out, an employee contribution of 5% would equate to the company kicking in 4% for a 9% total contribution. Again, this is a "typical" plan and there are exceptions in both directions of course. My plan has defined levels based on years of service...I contribute 4.5% and employer contributes 12.5% for a total of 17%.
Mine is similar, 6% match at 100%, additional match based on age and years of service, which was added in lieu of doing away with a pension.