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.
Calculating the Employer Match. Most employees contribute to their 401(k) as a percentage of their salary. 6% seems to be a common number, but it can be anything. So the first thing you need to do is find out your contribution rate if you don't already have that information handy. Next, find out how much your employer is willing to match. Some match dollar-for-dollar up to a certain percentage of your salary, and others match a certain percentage of your contributions up to a limit. For example, your employer may say that it matches 50% of employee contributions of up to 6% of salary..