"oc get events" shows "fit failure on node (nodename): Insufficient pods"

Issue

When setting the max-pods kubeletArgument value to 110 in /etc/origin/node/node-config.yaml as below:

kubeletArguments: 
  max-pods:
  - '110'

Only 20 or 40 pods are able to be deployed before seeing the following in the output of oc get events:

$ oc get events

fit failure on node (node1): Insufficient pods
fit failure on node (node2): Insufficient pods