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.
An employerâs maximum deduction is limited to 25% of the annual compensation paid to eligible employees. For 2012, the individual maximum contribution limit for employees applied to all defined contribution plans is 100% of compensation or $50,000, whichever is less.n employerâs maximum deduction is limited to 25% of the annual compensation paid to eligible employees. For 2012, the individual maximum contribution limit for employees applied to all defined contribution plans is 100% of compensation or $50,000, whichever is less.