"There are other limits that restrict contributions made on your behalf. In addition to the limit on elective deferrals, annual contributions to all of your accounts - this includes elective deferrals, employee contributions, employer matching and discretionary contributions and allocations of forfeitures to your accounts - may not exceed the lesser of 100% of your compensation or $49,000 for 2009 and 2010. In addition, the amount of your compensation that can be taken into account when determining employer and employee contributions is limited. In 2009 and 2010, the compensation limitation is $245,000."

(from the IRS website)