Narrative:

While on descent to 5000 ft (socal control) sighted traffic at 2 O'clock position about 1 mi on what appeared to be collision course. I made sharp turn and dived to keep traffic in sight. I descended to 4500 ft in this evasive maneuver. I was cautioned by socal about the loss in altitude. However; because of haze/smog I thought the traffic was at my altitude. The controller said that traffic was VFR. After clearing that traffic; I immediately returned to 5000 ft. Under the circumstances; I felt it was prudent to take this evasive action to keep the traffic in sight to avoid collision.

Google
 

Original NASA ASRS Text

Title: BE33 PLT DESCENDING ON AN IFR FLT PLAN UNDERTAKES A DIVING EVASIVE MANEUVER TO AVOID VFR TRAFFIC. OVERSHOOTS CLRED ALT AS A RESULT.

Narrative: WHILE ON DSCNT TO 5000 FT (SOCAL CTL) SIGHTED TFC AT 2 O'CLOCK POS ABOUT 1 MI ON WHAT APPEARED TO BE COLLISION COURSE. I MADE SHARP TURN AND DIVED TO KEEP TFC IN SIGHT. I DSNDED TO 4500 FT IN THIS EVASIVE MANEUVER. I WAS CAUTIONED BY SOCAL ABOUT THE LOSS IN ALT. HOWEVER; BECAUSE OF HAZE/SMOG I THOUGHT THE TFC WAS AT MY ALT. THE CTLR SAID THAT TFC WAS VFR. AFTER CLRING THAT TFC; I IMMEDIATELY RETURNED TO 5000 FT. UNDER THE CIRCUMSTANCES; I FELT IT WAS PRUDENT TO TAKE THIS EVASIVE ACTION TO KEEP THE TFC IN SIGHT TO AVOID COLLISION.

Data retrieved from NASA's ASRS site as of May 2009 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.