Among the things to be thankful for this week, the 401(k) is high on the list. Americans have some $5 trillion worth of money in the tax-deferred accounts. But like the Thanksgiving story itself, the 401(k) narrative is a complicated one, that often skips over some troubling realities.

This week on The Readback, Alex Eule speaks with Beverly Goodman about whether the 40th birthday of the 401(k) is a time to celebrate or rethink our retirement policies.

The Readback is a weekly financial podcast from Barrons. Hosted by Alex Eule and produced by Mette Lützhøft.