My understanding is that the drill bit is intended to be bottomed out in an Albrecht chuck. As the spindle moves up and the jaws close, the bit is supported underneath and on three sides. This aids in solidity and accuracy. The only time I don't bottom a bit is when using a center drill; this is so I don't dull the point that is sitting inside the chuck.
When using a big drill, especially a S&D drill, I change to a Jacobs Super Chuck - it grabs more securely and I don't ever have a jam.