A centralizing bushing assembly includes a bushing housing having axial ends and an opening extending therethrough along an axial axis. The opening can have a pocket extending outwardly from the axial axis within the bushing housing and have internal shoulders axially facing each other. A bushing ring can be positioned within the pocket of the bushing housing between the internal shoulders. The bushing ring can have a split for allowing collapsing of the bushing ring radially inward and have an inner diameter for slidably engaging an axially movable shaft extending through the bushing housing along the axial axis and also have an outer shoulder. A resilient biasing member can be positioned against the outer shoulder of the bushing ring for radially biasing the inner diameter of the bushing ring radially inwardly in a centralizing manner about the axial axis for engaging and centralizing the shaft slidably positioned therethrough.