Also called excellence review, or eye of the needle.
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Timing
Quote from Article 7B (as of Jan 12, 2023):
The University shall conduct the excellence review in the academic year in which the 18th quarter, 12th semester, or 24th fiscal quarter of service occurs, and the University shall complete the excellence review prior to the commencement of the 19th quarter, 13th semester, or 25th fiscal quarter. However, the University shall not be obligated to complete an excellence review if the NSF does not perform service in an eighteenth (18th) quarter, twelfth (12th) semester, or twenty-fourth (24th) fiscal quarter.
Review committee
There are rules in the union contracts.
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