An apparatus for preloading a bearing assembly on a shaft includes a first annular threaded member positioned about the shaft and a second annular threaded member positioned about the shaft. The first and second threaded members have intermeshing threads such that rotation of the second threaded member causes axial translation of the first threaded member to apply a first axial force to the bearing assembly to preload the bearing assembly. An actuator is operable to rotate the second threaded member relative to the first threaded member to apply the first axial force to the bearing assembly.