A new research capability has been established by financial industry trade organizations LIMRA and LOMA to study retirement issues.

Speaking at the organizations’ annual conference in New York, Robert Kerzner, the president and CEO of LIMRA and LOMA, announced the creation of the LIMRA LOMA Secure Retirement Institute (SRI) to provide research and education into all aspects of the retirement industry.

It says that the SRI “will focus on advancing research and education as catalysts for innovation within the industry to help improve retirement readiness and promote retirement security.”

“Retirement is top of mind for most Americans but our research shows that many consumers have not saved or planned enough to achieve a financially secure retirement,” said Kerzner.

“While there has been much debate on what is causing this lack of preparedness, I think we can all agree that getting better understanding on the fundamental issues undermining Americans financial security in the hands of decisions makers is critical and would help certainly move us in the right direction.”

The organization also named its board of directors, which draws from a variety of insurance and investment firms.