Retired spies Jane and Jefferson “Jeff” Blue crash a wedding in New Orleans, Louisiana, while on maternity leave with their eleven-month-old daughter. They befriend Vern and Bonnie Newman, another couple staying at their hotel, and bicker over whether to name the baby Louise Jane or Jane Louise. While Jeff takes the infant for a walk in her stroller, he encounters a small-time criminal who goes by the name of “Muerte.” Holding his daughter in one arm, Jeff effortlessly blocks Muerte’s attacks, leaving him humiliated. Later, New Orleans Police Lieutenant Theodore “Ted” Sawyer and Detective Sergeant Halsey follow up with the Blues about the attempted mugging, but Jeff feigns ignorance to avoid getting into trouble with Jane. Suspicious of Jeff’s background, Sawyer telephones his connections at the Federal Bureau of Investigation (FBI) and Central Intelligence Agency (CIA), and learns that the Blues were previously fired from both organizations. He remains determined to figure out who they are working for, and keeps close watch over them during their stay. One morning, Frank, the Blues’ agent handler, stops by their hotel room and begs them to come out of retirement to help recover a shipment of “C-22,” a highly volatile plastic explosive stolen by Paulina Novacek, the former head of the Czech Secret Police. In exchange for six months paid leave and a hefty salary bonus, the Blues agree to investigate, beginning with Foster, Novacek’s anxious collaborator. Realizing he is being tracked, Foster alerts Novacek that the Blues are working on the case. This worries Novacek, since she encountered the couple in Budapest, Hungary, several years earlier. After Sawyer and Halsey continue to prod Jane and Jeff for information, the Blues admit that Novacek is suspected of running an industrial theft operation out of New Orleans. Later, the Blues threaten to torture a corrupt banker named Mr. Ferderber, until he divulges contacts within Novacek’s chain of command. Meanwhile, Muerte remains disgraced by his defeat and Jeff’s tendency to call him “Morty.” He stalks the Blues around town with the intent of exacting revenge, but each effort ends in further embarrassment. Hoping to use this to their advantage, Jane disguises herself as a homeless woman and feeds information to Muerte, which he then passes to Novacek’s collaborators. While Jane stays home with the baby, Jeff follows Muerte to Novacek’s hideout downriver. Although he attempts to evade Sawyer’s careful watch, the belligerent lieutenant follows closely behind. Moments after their arrival, Novacek reveals that she has taken Jane and her child hostage and intends to kill them. However, Jeff knows that Jane left the baby with the Newmans, and the bundle in her arms is actually a doll rigged with explosives. Jane tosses the bomb into the air as it detonates, creating enough of a diversion for her, Jeff, and Sawyer to escape. They chase Novacek through a mining facility, where she retrieves the suitcase of C-22. As Novacek’s getaway helicopter hovers overhead, she jumps onto a rope ladder, but drops the suitcase into a mud pit below. Jane races to retrieve the suitcase, and the two women fight. Jeff proudly watches from the sidelines and decides they will name their daughter Jane Louise, after her mother. Novacek eventually absconds with the C-22 and boards the helicopter, unaware that it is piloted by undercover U.S. agents. Frank handcuffs her, and the Blues explain the set-up to a bewildered Sawyer. After returning to the hotel, the couple packs their belongings and departs on a sailboat. Once at sea, Muerte emerges from below deck holding a switchblade knife, but the mast swings askew and knocks him overboard. Jane throws him a lifesaver, and Jeff waves goodbye as they steer toward Cuba for their next mission.