A thrust bearing assembly includes a single-piece thrust plate and thrust shaft flange having a generally cylindrical body portion, a frustoconical body portion and a bore extending through the cylindrical body portion and the frustoconical body portion. The bore defines a first bore section and a second bore section. A lip extends between the first and second bore sections. The first bore section, the second bore section and the lip are configured to receive a thrust shaft and axial thrust forces transmitted therefrom. The thrust bearing assembly also includes a bearing assembly in operable communication with the single-piece thrust plate and thrust shaft flange. The bearing assembly supports rotation of the thrust shaft and includes a plurality of first rolling elements. The bearing assembly includes a bearing cage to retain the first rolling elements and a plurality of second rolling elements disposed between the bearing cage and the thrust shaft.