From the Psychometric Society website: 

Eligible nominees must have demonstrated excellence in psychometric research over a minimum of 25 years, as evidenced by important publications, invited/keynote talks at relevant conferences, and professional service. 

The Career Award for Lifetime Achievement honors individuals whose publications, presentations, and professional activities over a career have had a widespread positive impact on the field of psychometrics. These contributions may include important theoretical or methodological developments, applications of psychometric theory and methods that have influenced substantive research in psychology, educational measurement or related fields, or innovative ideas that have significantly affected psychometric practices. 

A list of past winners can be found here.