I haven't "run your numbers yet", but the one thing that strikes me as odd, your terms for contribution, match, and auto, all of hold a certain weight as far as importance and dollar value, so this is a RFI "request for information". What pray tell is a 5% auto?. Also please list them as such, e.g. 4% employee contribution, employee match of 100% up to 5.5% of every dollar of yearly earnings, and 5% auto, auto what?, this needs to be defined, it is not clear.
Bob,
The company is proposing to automatically put 5% of your wages as a match into your 401K, furthermore, if you put in 4% of your wages into the 401k, they'll match that 4%. Hope this helps. I'm sure you'll see the math works.
P. Rez