A steering bearing assembly is provided for connecting the front wheel and handle bars of a bicycle to the frame. The assembly includes a steerer tube, connected to the front wheel and passing through a head tube on the frame. Bearing assemblies on the upper and lower ends of the head tube allow the steerer tube to pivot within the head tube. The upper bearing assembly has a first race connected to the head tube and a second race having a tapered contact surface. Above the second race on the steerer tube is a compression ring having a gap so the ring can be compressed against the steerer tube. The connector of a stem is located on the steerer tube above the compression ring. The handle bars of the bicycle are connected to the stem. An adjuster nut is threaded into the upper end of the steerer tube, exerting a downward force on the connector and the compression ring. The second race compresses the compression ring, locking the upper bearing assembly in place on the steerer tube. The connector is then clamped onto the steerer tube.