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.
Each year, there is a limit of 6% of your gross salary that the employer will match. Therefore, an individual with a salary of $50,000 that contributes at least 6% to his/her 401(k) plan will receive a matching contribution from the employer of $1,500. Note, however, that an employee who doesnât contribute to the plan will receive nothing from the employer in the way of a match.