; and (B) after receiving such representations and as of the time of selection, the fiduciary has not received any notice described in subparagraph (A)(iv) and is in possession of no other information which would cause the fiduciary to question the representations provided. (3) No requirement to select lowest cost Nothing in this subsection shall be construed to require a fiduciary to select the lowest cost contract. A fiduciary may consider the value of a contract, including features and benefits of the contract and attributes of the insurer (including, without limitation, the issuer’s financial strength) in conjunction with the cost of the contract. (4) Time of selection (A) In general For purposes of this subsection, the time of selection is— (i) the time that the insurer and the contract are selected for distribution of benefits to a specific participant or beneficiary