The biggest iron mine. The worlds biggest open pit iron mine can be found near Hibbing, Minnesota. At its maximum, the area covered by the Hull Rust open pit mine is five miles (8km) long, 2 miles (3,2km) wide and 535 feet (180m) deep. It looks like a man-made Grand Canyon of over 2,000 acres (8,1kmÂ²).
Nearly two-thirds of plans provide employer matching contributions today. Most common is a dollar-for-dollar up to a specific agreed percentage of pay which is commonly up to 6% of yearly income. The employer matching program is any potential additional payment to an employeeâs 401(k) plan.
The maximum annual limit does include the employer match, but not the catch-up contribution. So in 2012, the $50,000 limit is made up of an employee (your) maximum of $17,000 vs $33,000 employer limit. The catch up contribution for those over 50 is $5500.