This should have a washer the size of the metal bushing in the center so it does not contact the plastic part.
These only last so long b/c there is no way to lubricate them to my knowledge. If it turns freely that's about all you can hope for. I've never torqued one , they usually come with a lock nut on the underside to keep the nut from backing off so once it's good and tight , this is where I leave it.
You can get torque specs for the size of the bolt ( 5/8 " 1/2 " ) etc. Just off the top of my head I'd say 50 - 75 lbs