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.
Matching contributions from your employer are limited to 25 percent of your salary. If you're self-employed and funding your own 401(k), the matching contribution is limited to 20 percent of your net self-employment income. Matched funds are always contributed to the tax-deferred portion of the 401(k) plan. The total of elective salary deferrals plus employer matching contributions is limited to $54,000 in 2017. Deadline Limitations You can make deferred contributions from your last paycheck of the year, but your deadline is otherwise Dec. 31 for 401(k) contributions for tax years 2016 and 2017.