No, he should not. Nor should any elected position have a pension at all. You don’t retire from politics, you can only fail to be voted in (or fail to put your name on the ballot.)
Politics should never be a valid career path, that’s what business is for. And until we take steps to stop our politicians from embezzling public funds for their own benefit (most especially in making cushy retirements for public employees), every state is on a collision course with bankruptcy.
That's why a combination of (1) term limits and (2) all political donations to be ANONYMOUS* is needed to curtail the career politician, who is the cause of many ills.
*You can't sell influence if you don't know who is buying. Every American should have the right to donate to any candidate or party, in any amount they choose; that is FREEDOM. But to negotiate a result for the donation is BRIBERY, a crime. Cut it off.