Hello, After sinking my boat up to the cowling in salt water during a wind storm rust took over. Recently the bottom 1/4" of the "swivel pin steering arm"(hollow tube that shifter travels through) chiped out from rust and the retaining ring has no place to grab hold of. This is all below the bottom yoke,the yoke is already in place, and all of the parts are bolted on, so does the retaining ring play a functional role (the O rings and bushings appear by diagram to be trapped exactly where I need them to be). Does anyone know of what I am refering to? Is that retaining ring an integral part once initial installation has taken place or not? I'd be grateful for any help. Carter