A lock nut system includes a nut threadably engageable with a shaft and a keeper having a projection configured to fit within a slot of the shaft to engage the shaft. A retaining member is formed separate from the keeper and the nut. The retaining member is receivable within a slot of the nut to engage the nut. A portion of the retaining member engages the keeper by extending into a keeper cavity within the keeper. The nut is lockable onto the shaft when the projection of the keeper is fit within the slot and the keeper is abutted and supported by an inner shoulder of the nut and the retaining member engages the nut and the portion of the retaining member extends into the cavity within the keeper.