I have no idea what percentage of people contributed to the 401k while we still had the pension. For me personally, I never contributed to it and I never paid much attention to it. I used a financial advisor to (mis)manage it for me. I don't remember the percentage, but when the tech bubble burst I lost something like almost half of it. I remember thinking it was a bummer but not being particularly upset about it because the pension was going to be my main retirement.

When we lost the pension, that was a MAJOR shock to someone like myself who was halfway through my career and (in hind sight) foolishly counting on it. I had to get real serious about my 401k and the DC Plan. I guess the silver lining is that the money now belongs to me... no one can take it away. And it's forced me to learn about investing and figure out a good, solid plan for my retirement.