- Grocery & Café
- Washington, DC
- 50 Employees
Good Choices Made Easy at Glen’s Garden Market
Danielle Vogel has built her business on one core idea: make it easy to do the right thing. She says virtually everything in Glen’s Garden Market, her store and café, is locally and sustainably produced and the store maximizes energy efficiency, uses no disposable bags and composts all food waste.
Danielle has that same attitude towards her employees. With a staff of about 50, many of them working part time, Danielle tries to find ways to make the right choice easy for them to make. One example is Danielle’s encouragement of physical fitness through a policy of paying employees’ entrance fees in one race or athletic endeavor per year.
myRA: Right for Employees and Business
Another is Glen’s participation in myRA® — a new simple, safe and affordable way to start saving for retirement developed by the U.S. Department of the Treasury. myRA has no fees, no required minimum contributions and no risk of losing money.
Employers pay nothing and do not administer or contribute to accounts. Employees choose how much to contribute through payroll deductions to build up a savings that will earn interest and grow risk-free. myRA is actually a Roth IRA, and shares the same annual contribution limits, withdrawal rules and tax advantages of that retirement plan.
“The contours of myRA make it such a no-brainer,” says Danielle. “It’s so easy, with no fees and no minimums. This is the easiest way for people to begin saving for retirement. myRA is really a gift for small business owners.”
myRA is designed for people just starting to save for retirement. It lets workers contribute and build savings of up to $15,000 or for 30 years, whichever comes first. They can then transfer or roll over their savings to a private-sector Roth IRA, where their savings can continue to grow.
For Danielle, helping her employees get on the path to a more secure retirement “makes me feel like I can punch above my weight” when potential new employees compare Glen’s with larger businesses, she says. “Most of our benefits are super offbeat and creative. Because I don’t have the money as a small business owner to have invested in a more comprehensive retirement benefit, there was no downside” to encouraging her staff to save with myRA.
It’s so easy, with no fees and no minimums. This is the easiest way for people to begin saving for retirement.-Danielle Vogel, owner, Glen’s Garden Market
Saving for the Future — Whenever It May Be
Audrey Groce, Special Operations Manager, was the first Glen’s employee to sign up. At 23, she admits that retirement is a distant concept, but Groce says she was brought up to plan ahead.
In retirement, Audrey said she wants to travel. “I have all these things I want to do. I like the idea that someday I’d be able to retire, and because I’ve taken care of things and saved, I’d be able to get in the RV and go.”
Danielle asked Audrey to research how myRA could be shared with the staff. By the time she finished the research, she had signed up. “It was so easy,” she said. “It took me six minutes.”
Having settled on an amount she will save each payday, Audrey has let her savings build. “I get joy out of saving,” she said. “I am of the mind that if there’s something available that is free and helps me, why not?”
What others are saying about myRA
it feels great to be able to put money away for the future…-Michael K.
I like the idea that someday I’d retire…-Audrey G.