Despite the rapid advancements in large language model (LLM) development, fine-tuning them for specific tasks often results in the catastrophic forgetting of their general, language-based reasoning abilities. This work investigates and addresses this challenge in the context of the Generative Retrieval (GenRetrieval) task. During GenRetrieval fine-tuning, we find this forgetting occurs rapidly and correlates with the distance between the fine-tuned and original model parameters. Given these observations, we propose ORBIT, a novel approach that actively tracks the distance between fine-tuned and initial model weights, and uses a weight averaging strategy to constrain model drift during GenRetrieval fine-tuning when this inter-model distance exceeds a maximum threshold. Our results show that ORBIT retains substantial text and retrieval performance by outperforming both common continual learning baselines and related regularization methods that also employ weight averaging.