Narrative:

We were in our descent from altitude on our trip from cgf to mdw. Ord approach had cleared us to descend to 7000 ft. The aircraft was on autoplt in the descent. The PNF was off the frequency obtaining the current ATIS information. Upon approach in 7000 ft, approach cleared us to 6000 ft. I acknowledged the clearance to 6000 ft and set the new altitude in the altitude alerter. After setting in the new altitude and continuing the descent, I took a moment to study the approach chart. As I was doing that, the pilot who had been getting the ATIS said, hey, aren't we cleared to 6000 ft. I looked up, and we were passing 5700 ft. The copilot had grabbed the controls to stop the descent. I took the controls and assured that the autoplt was off, and initiated a climb back up to 6000 ft. As we were climbing back to 6000 ft, approach told us that our assigned altitude was 6000 ft and asked us what our altitude was. By that time we were leveling at 6000 ft so we replied that we were level at 6000 ft. I believe that the problem occurred because both pilots were distracted from flying the aircraft during the descent. I should have been monitoring the instruments even though the aircraft was on autoplt. I don't know why the autoplt and flight director didn't capture the altitude, but the incident would have been prevented if one pilot was monitoring the instruments at all times.

Google
 

Original NASA ASRS Text

Title: FLC DSNDED 300 FT THROUGH THEIR ASSIGNED ALT.

Narrative: WE WERE IN OUR DSCNT FROM ALT ON OUR TRIP FROM CGF TO MDW. ORD APCH HAD CLRED US TO DSND TO 7000 FT. THE ACFT WAS ON AUTOPLT IN THE DSCNT. THE PNF WAS OFF THE FREQ OBTAINING THE CURRENT ATIS INFO. UPON APCH IN 7000 FT, APCH CLRED US TO 6000 FT. I ACKNOWLEDGED THE CLRNC TO 6000 FT AND SET THE NEW ALT IN THE ALT ALERTER. AFTER SETTING IN THE NEW ALT AND CONTINUING THE DSCNT, I TOOK A MOMENT TO STUDY THE APCH CHART. AS I WAS DOING THAT, THE PLT WHO HAD BEEN GETTING THE ATIS SAID, HEY, AREN'T WE CLRED TO 6000 FT. I LOOKED UP, AND WE WERE PASSING 5700 FT. THE COPLT HAD GRABBED THE CTLS TO STOP THE DSCNT. I TOOK THE CTLS AND ASSURED THAT THE AUTOPLT WAS OFF, AND INITIATED A CLB BACK UP TO 6000 FT. AS WE WERE CLBING BACK TO 6000 FT, APCH TOLD US THAT OUR ASSIGNED ALT WAS 6000 FT AND ASKED US WHAT OUR ALT WAS. BY THAT TIME WE WERE LEVELING AT 6000 FT SO WE REPLIED THAT WE WERE LEVEL AT 6000 FT. I BELIEVE THAT THE PROB OCCURRED BECAUSE BOTH PLTS WERE DISTRACTED FROM FLYING THE ACFT DURING THE DSCNT. I SHOULD HAVE BEEN MONITORING THE INSTS EVEN THOUGH THE ACFT WAS ON AUTOPLT. I DON'T KNOW WHY THE AUTOPLT AND FLT DIRECTOR DIDN'T CAPTURE THE ALT, BUT THE INCIDENT WOULD HAVE BEEN PREVENTED IF ONE PLT WAS MONITORING THE INSTS AT ALL TIMES.

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.