Answer
Axial impact loading creates a dynamic stress wave that can exceed the static shear strength of the ring or the groove. In such cases, failure occurs via 'shear-off' of the groove wall or the ring itself. Unlike static failure, impact failure often leaves evidence of plastic flow or 'smearing' on the contact surfaces. To mitigate this, a safety factor of $4$ or $5$ should be used instead of the standard $3$. Additionally, using a wave spring in conjunction with a retaining ring can act as a shock absorber, damping the impact energy and protecting the retaining ring from peak force transients.