At a glance
What can fail
The steering gear snap ring groove is machined incorrectly, which can cause the snap ring to fracture and damage the recirculating ball guide tube. On vehicles built after February 1988, the O-ring seal does not meet specifications, causing fluid to leak inside the steering gear.
What the fix does
Dealers will rebuild your steering gear. If a broken snap ring is found during rebuilding, the steering gear will be replaced with a remanufactured unit.
Summarized — see the official notice for exact wording, dates, and contacts.