The criteria to qualify for an Olympic Redshirt year is
1. Past Senior World and Olympic Team members
2. Top eight placewinner at the 2011 U.S. Senior World Team Trials
3. Top three placewinner at the 2011 NCAA Championships or NCAA champion from a previous year AND a top two finish at the 2011 University National Championships (must accomplish both).
From: http://www.themat.com/article.php?ArticleID=22539