While setting up a school pageant, the parents at an elite private academy in New York City reflect on their lives and marriages. Baby boomers Iris (Stockard Channing) and John (Beau Bridges) look back on their free-spirited early years. Nina (Mary Stuart Masterson) and Chuck (Robert Sean Leonard) are a young couple worried about making their marriage last. Meanwhile, trophy wife Claire (Cybill Shepherd) has serious issues with the daughter of her rich husband, Leo (Ron Silver).