It was the midpoint to Bill Clinton's first term as President of the United States, when he'd established himself as POTUS.
The time between Green Bay Packers coach Vince Lombardi's death in 1970 to the Packers trading for quarterback Brett Favre in 1992 was an Audience-Alienating Era for Packers fans. 1995 was during the Packers' renaissance, culminating with winning Super Bowl XXXI after the 1996-97 season.
Leia’s name. Her Star Wars obsessed father’s influence is obvious, but it also makes sense that feminist Donna would agree to name their daughter after the badass Rebel Alliance leader.
The Forman house is still a little out of date with the times in 1995 (the built-ins are unchanged, some kitchen appliances look more like late 80s models, it still has wallpaper in the kitchen, they still have the old living room couch, just moved to the basement) especially when compared to Gwen's bedroom. Which makes sense as Red and Kitty were never concerned with keeping up with the times and only replaced things as they needed to. And now that they're retired, they would be less likely to replace what isn't broken with the ultra-modern due to the costs.
This also sets up gags, as The '90s were the golden age of "as seen on TV" products that never seemed to work as advertised.
People aged quicker in the past, even the relatively recent. So while Kurtwood Smith and Debra Jo Rupp look pretty good for 79 and 71, respectively, they look about average for a mid-sixties couple in the 90s. And while Laura Prepon looks every one of her 42 years, she also looks appropriately aged for a 38-year-old in that era.
So Leia comes to visit her grandparents for a 4th of July weekend, and it's agreed she will stay for the rest of summer break, which would end between late August or early September. She also celebrates her birthday during this time, meaning she was born in either July or August. Eric only came back from Africa for New Year's Eve in 1979, with the show being unclear about how long he was actually gone, which makes it possible that she isn't his kid.
Jay has a similar issue, since he's implied to already be sixteen and therefore older than Leia, meaning that Jackie must have been pregnant during the ending of the show and found out while dating Fez.
