A surgical tool system with a handpiece and a cutting accessory that has inner and outer hubs. The handpiece has a spring biased lock ring that abuts a complementary stop member integral with the accessory outer hub to hold the accessory to the handpiece. An RFID chip is disposed against an inner wall of the accessory outer hub. An elastomeric seal pressed against the inner wall of the accessory outer hub provides environmental protection for the RFID chip. The seal has a rib that extends around the outer perimeter of the proximal end of the outer hub so as to form a seal between the accessory and an adjacent inner wall of the handpiece. Stop tabs extend inwardly from the seal to prevent the drive hub disposed inside the outer hub from falling out.