not right
here's what it says
Lesser known and often misunderstood is $58,000 (+ additional $6,500 for those over 50)
overall contributions limit 2021; combined employee AND employers contributions. Notice the big difference! It pays to be your own boss and use the employer contribution to top up on your solo 401K. you apparently are an employee and have no self-employment income. self-employed, i.e. those that are their own employers, are the ones who can contribute the $58K maximum. for an employee, the maximum is 19.5K + 6.5k for those over 50 (while the word used by SundayInSalem is "employer" it should be "employee"
per IRS
If permitted by the 401(k) plan, participants (employee) age 50 or over at the end of the calendar year can also make catch-up contributions.
