The episode starts off with Bikini Bottom News broadcasting an interview with Plankton and his evil schemes. Plankton initially tells the newsman some of his evil schemes, but gets fed up when the cameraman frequently takes advantage of Plankton's interview.
Later on, Plankton rides a robot seahorse to the Krusty Krab. Plankton peeks into the Krusty Krab to find Mr. Krabs' office safe appear open, appearing as though the Krabby Patty Secret Formula is exposed outside of the safe. Plankton rockets his way there, only to get hit by a paper photocopy of the safe that has been pinned on the wall. Mr. Krabs soon rolls him up into the piece of paper and feeds it to his robot seahorse.
Plankton tries a variety of other different techniques to take advantage of getting the Krabby Patty Secret Formula. All of them failed: firstly by grabbing a sea-urchin-infested Krabby Patty, secondly by getting intercepted by Mr. Krabs while flying, shoving a jellyfish-hive into a hole which causes jellyfish to sting Plankton, and even by Mr. Krabs hiding in the same stomach as another Krusty Krab customer.
He tells Karen about all those failures, and Karen tries to calm him down. Plankton tells her about giving up the Krabby Patty Secret Formula. Karen criticizes how he frequently gives up, but Plankton unplugged the power before she could say anymore. He then steps outside to bury the Chum Bucket, with the help of the Chum Bucket hand, to show that he has retired.
Meanwhile, SpongeBob and Mr. Krabs notice Plankton's strange activity. They soon quickly follow the bus using a fishing rod as a grapple rope. They reach a dull town named Dullsville, a town full of retired people and elderly-people-targeted shops. Mr. Krabs and SpongeBob soon follow Plankton to Plankton's new hotel room at Dullsville Senior Living. They watch all his activities in a ceiling fan.
Mr. Krabs and SpongeBob suddenly fall from the ceiling fan, and Mr. Krabs explains that he is happy to be retiring. Plankton then states he is already at the Krusty Krab stealing the formula. This is revealed that Plankton is actually a decoy of Robot Plankton.
Meanwhile, the real Plankton casually walks to Mr. Krabs' office to steal the secret formula, unseen by anyone. Soon afterwards, the real Mr. Krabs and SpongeBob walk in to catch him with the formula. They soon tell him all the two in Dullsville are simply robots disguised as decoys. Then the real Plankton gets really annoyed and bashes his head on the ground multiple times. Later shows the undisguised Robot Krabs, Robot SpongeBob, and Robot Plankton, talking about themselves as decoys.
Back at the Krusty Krab, Plankton is convinced the real Mr. Krabs and SpongeBob are the real ones. He soon runs with the Krabby Patty Secret Formula, constantly crashing into fellow customers. Meanwhile, with the robot characters, Robot Krabs, Robot SpongeBob, and Robot Plankton are enjoying their holiday time with each other. The episode ends with them cheering and suddenly exploding.
When Plankton picks up the patty, the Krusty Katering truck is gone.
When Karen comes in the room and gives Plankton baby milk, she appears to have nothing attached to her. But in the next few scenes when Plankton jumps out of her hands, she is attached to an electrical outlet.
There is a mistake in the opening credits where Bob Jaques, the animation director, is credited as "Timing Director."
When SpongeBob says "I hope our robot lookalikes are doing okay," he appears to have no arms.
When Plankton runs into the real Mr. Krabs and SpongeBob while stealing the formula, SpongeBob does not have his Krusty Krab hat on. But in the next scene where Plankton says, "So you're the real Krabs and SpongeBob," he does appear to have his hat back on.