Super Savers: How Much Is Too Much to Put Into Your 401(k)?

I have a couple of 401(k) questions. The annual limit for contributions is $10,500. Does that include my employer's matching contributions? If I were suddenly lucky and began making $1 million a year and I continued to put 15% of my salary in my 401(k), would I be penalized for excess contributions? Or would the money just get squirreled away somewhere?

-- Laird Nelson

Laird,

Here's some wishful thinking -- some day Congress is going to make saving for retirement less complicated. ...