I just removed the bearing caps and removed the frame to prepare for painting. I immediately noticed a thin metal “band” around each bearing; actually, the band only goes about 90% around, and is easily moved (independant of the bearings) or removed. Why is this on the bearing(s)? And does it matter where the gap in the band is positioned, before reinstalling the main caps? 
Its more than likely a bearing spacer so the bearings will fit the frame.
its a bearing spacer, Summit holders are 43mm and the bearings are 42mm
put the gap in the middle of either the top or the bottom of the holders, doesnt matter.
Thanks for the info and 
advice!
Speaking of summits, does anyone know where I can get another seat post shim? 29-27.2