The 4--6 June 1991 magnetic storm, which occurred during solar maximum conditions, is analyzed to investigate two observed features of magnetic storms that are not completely understood: (1) the mass-dependent decay of the ring current during the early recovery phase and (2) the role of preconditioning in multistep ring current development. A kinetic ring current drift-loss model, driven by dynamic fluxes at the nightside outer boundary, was used to simulate this storm interval. A strong partial ring current developed and persisted throughout the main and early recovery phases. The majority of ions in the partial ring current make one pass through the inner magnetosphere on open drift paths before encountering the dayside magnetopause. The ring current exhibited a three-phase decay in this storm. A short interval of charge-exchange loss constituted the first phase of the decay followed by a classical two-phase decay characterized by an abrupt transition between two very different decay timescales. The short interval dominated by charge-exchange loss occurred because an abrupt northward turning of the interplanetary magnetic field (IMF) trapped ring current ions on closed trajectories, and turned-off sources and flow-out losses. If this had been the end of the solar wind disturbance, decay timescales would have gradually lengthened as charge exchange preferentially removed the short-lived species; a distinctive two-phase decay would not have resulted. However, the IMF turned weakly southward, drift paths became open, and a standard two-phase decay ensued as the IMF rotated slowly northward again. As has been shown before, a two-phase decay is produced as open drift paths are converted to closed in a weakening convection electric field, driving a transition from the fast flow-out losses associated with the partial ring current to the slower charge-exchange losses associated with the trapped ring current. The open drift path geometry during the main phase and during phase 1 of the two-phase decay has important consequences for the evolution of ring current composition and for preconditioning issues. In this particular storm, ring current composition changes measured by the Combined Release and Radiation Effects Satellite (CRRES) during the main and recovery phase of the storm resulted largely from composition changes in the plasma sheet transmitted into the inner magnetosphere along open drift paths as the magnetic activity declined. Possible preconditioning elements were investigated during the multistep development of this storm, which was driven by the sequential arrival of three southward IMF Bz intervals of increasing peak strength. In each case, previous intensifications (preexisting ring currents) were swept out of the magnetosphere by the enhanced convection associated with the latest intensification and did not act as a significant preconditioning element. However, plasma sheet characteristics varied significantly between subsequent intensifications, altering the response of the magnetosphere to the sequential solar wind drivers. A denser plasma sheet (ring current source population) appeared during the second intensification, compensating for the weaker IMF Bz at this time and producing a minimum pressure-corrected Dst* value comparable to the third intensification (driven by stronger IMF Bz but a lower density plasma sheet source). The controlling influence of the plasma sheet dynamics on the ring current dynamics and its role in altering the inner magnetospheric response to solar wind drivers during magnetic storms adds a sense of urgency to understanding what processes produce time-dependent responses in the plasma sheet density, composition, and temperature.