Hypothetically, say I switch from employer A to employer B in mid 2024. Both employers provide a 50% match and use different 401k platforms. So, technically, I can contribute 23k (the limit for 2024) to both platforms and therefore 46k in total and get the 50% match from both employers. Then, in my tax return, I admit I over-contributed 23k and pay regular income tax for that 23k. Of course, after I retire, I pay tax again withdrawing the 23k*1.5 and the growth from it.
Comparing to contributing 0 via company B, the above scenario is favorable if the match I got from employer B (23k*50%) is greater than the tax for the 35k after retirement. This is quite likely true because the tax rate after retirement tends to be low.
Is my understanding correct?
