Silver 1/gold 5 - bronze 2

yes, even diamond rank ppl had a huge drop, some of them down to silver in fact

The answers you seek can be found here:

http://boards.na.leagueoflegends.com/en/c/gameplay-balance/E9nkYATc-psa-regarding-ranked-placement-and-seedings-for-all-who-are-confused

Best of luck on the Rift mate!

Dont worry. This is sadly a thing that has to be made but it flushes bad silver 5s into where they belong so people who have the potential to go to gold can climb without a hindrance