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.
Does the 401(k) max contribution limit include the employer match? There is a maximum limit on the total yearly employee pre-tax salary deferral. The limit is $17,000 for the year 2012, and $17,500 for the year 2013. Employees who are 50 years old or over at any time during the year are now allowed additional pre-tax âcatch upâ contributions of up to $5,500 for 2012 and 2013.