Narrative:

I was getting the ATIS when PF set altimeter of 30.76 instead of 29.76. He leveled off at 12000 ft on his altitude, when in fact we were at 11000 ft. We caught it about 15 seconds after we leveled off as I reported level with ATC. We immediately adjusted the altimeter to 29.76 and climbed back to the correct altitude. One of us was out of the loop just for a few mins and that was enough to miss the incorrect altitude setting. Supplemental information from acn 300044: ATC caught it and I climbed back to 12000 ft after setting the correct altimeter.

Google
 

Original NASA ASRS Text

Title: WRONG ALTIMETER SETTING CREATES A LEVEL OFF LOWER THAN PLANNED.

Narrative: I WAS GETTING THE ATIS WHEN PF SET ALTIMETER OF 30.76 INSTEAD OF 29.76. HE LEVELED OFF AT 12000 FT ON HIS ALT, WHEN IN FACT WE WERE AT 11000 FT. WE CAUGHT IT ABOUT 15 SECONDS AFTER WE LEVELED OFF AS I RPTED LEVEL WITH ATC. WE IMMEDIATELY ADJUSTED THE ALTIMETER TO 29.76 AND CLBED BACK TO THE CORRECT ALT. ONE OF US WAS OUT OF THE LOOP JUST FOR A FEW MINS AND THAT WAS ENOUGH TO MISS THE INCORRECT ALT SETTING. SUPPLEMENTAL INFO FROM ACN 300044: ATC CAUGHT IT AND I CLBED BACK TO 12000 FT AFTER SETTING THE CORRECT ALTIMETER.

Data retrieved from NASA's ASRS site as of July 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.