The rear baffle serves the same purpose, blocking escaping gas. If gas should get loose in the action or inside the bolt and either follow back along the bolt or excape through the cocking cam cutout, the rear baffle keeps it from coming back into the shooter's face and eyes.
While gas escape is an uncommon condition, it can happen, and I recommend replacing that baffle as soon as possible, preferably before firing the gun again. Check
www.gunpartscorp.com as they had them for around $20, or contact Savage.
Jim