If there is not a collective bargaining agreement between the parties, or if there is an agreement but the parties have begun negotiations or discussions looking to a new agreement or to an amendment of the existing agreement, and wage rates or other terms and conditions of employment under the proposed new or amended agreement are in dispute, the arbitration panel shall base its findings, opinion, and order upon the following factors, as applicable:
(a) The lawful authority of the department.(b) Stipulations of the parties.(c) The interests and welfare of the public and the financial ability of this state to meet those costs.(d) Comparison of the wages, hours, and terms and conditions of employment of the employees involved in the arbitration proceeding with the wages, hours, and terms and conditions of employment of other employees performing similar services, and with other state police troopers, sergeants, or both, in comparable states.(e) The average consumer prices for goods and services, commonly known as the cost of living.(f) The overall compensation presently received by the employees, including direct wage compensation, vacations, holidays and other excused time, insurance, pensions, medical and hospitalization benefits, the continuity and stability of employment, and other benefits received.(g) Changes in any of the foregoing circumstances during the pendency of the arbitration proceedings.(h) Other factors, not confined to those listed in this section, that normally or traditionally are taken into consideration in the determination of wages, hours, and terms and conditions of employment through voluntary collective bargaining, mediation, fact-finding, arbitration, or otherwise between the parties, in the public service or in private employment.1980, Act 17, Imd. Eff. 2/24/1980 .