Employer contributions

So I started my new job a few months ago, and I was against the idea of having a 401k and what not but I saw that in the plan highlights “your company will match 20% of your salary deferrals up to the first 15% of your eligible compensation “ So I start setting it and I see that it say “your company offers a match of 15%. By contributing less , you’ll miss an opportunity to receive the maximum company match money”

So those are two different statements but I’m confused. How do I get the max match of 20%? Can someone provide me with an example please? And lastly it says it’ll match me up to $500, I get it’s free money so how much should I be contributing?

submitted by /u/optionscaller2

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