A thrust bearing assembly comprising a rotating bearing runner and a stationary bearing carrier, the carrier defining a plurality of thrust pad sites annularly around the carrier, with a thrust pad disposed at a site and with the carrier constraining movement of the thrust pad in a direction generally radial to the longitudinal axis of the runner while allowing the thrust pad to move in a direction generally parallel to the longitudinal axis. An embodiment comprises a rotating bearing runner having a wear resistant face and a stationary bearing carrier defining cavities disposed annularly around the carrier. A deflection element (e.g., Belleville washer) is disposed in a cavity and a pad is disposed over the deflection element. The pad is at least partially disposed within the cavity. The wear resistant face contacts the pad. Another embodiment rigidly connects pads disposed on opposite sides of a stationary bearing carrier.