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.
Contributions to 401(k) plans come from employee salary deferral and employer match dollars. According to the IRS, employees may defer up to $18,000 of their salary for 2015 and the employer may make match contributions based on that amount, plus additional contributions for bonuses or other purposes.or example, if a company has a 50% match on contributions up to 5% of the participant's salary, even if a participant earning $55,000 contributes $18,000, he would only receive a total match from his employer of $1,375.