; and (iv) for calendar year 2026, by substituting 94 percent . (2) Increase in first bend point Section 215(a)(1)(B) of such Act ( 42 U.S.C. 415(a)(1)(B) ) is amended— (A) by redesignating clause (iii) as clause (iv); and (B) by inserting after clause (ii) the following new clause: (iii) With respect to computations or recomputations of primary insurance amounts made on or after January 1, 2023, the amount determined under clause (i) of this subparagraph for purposes of subparagraph (A)(i) for such calendar year shall be increased by— (I) for calendar year 2024, 1 percent, (II) for each of calendar years 2025 through 2037, the percent determined under this clause for the preceding year increased by 1 percentage point, and (III) for calendar year 2038 and each year thereafter, 15 percent. . (3) Application of increase; recomputations The amendments made by this subsection shall apply with respect to every individual who becomes entitled to old-age or disability insurance benefits under title II of the Social Security Act, or who dies (before becoming so entitled), in any calendar year. Notwithstanding section 215(f)(1) of the Social Security Act, the Commissioner of Social Security shall recompute the primary insurance amount of each such individual on the first day of each calendar year during the period beginning with calendar year 2023 and ending with calendar year 2038 to the extent necessary to carry out the amendments made by this section. (b) Inclusion of surplus average indexed monthly earnings in determination of primary insurance amounts Section 215(a)(1)(A) of the Social Security Act ( 42 U.S.C. 415(a)(1)(A) ) is amended— (1) in clauses (i), (ii), and (iii), by inserting basic before average indexed monthly earnings each place it appears; (2) in clause (ii), by striking and at the end; (3) in clause (iii), by adding and at the end