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Employee Not Entitled to FICA Tax Refund Where Deferred Compensation Plan Is Terminated Prior to Benefit Payment
Deloitte via BenefitsLink 
[Official Guidance] June 22, 2008
Excerpt: Drawing an analogy to a poor investment choice, the IRS Office of Chief Counsel has advised that an employee whose nonqualified deferred compensation plan was terminated before the benefits were fully paid is not entitled to a refund of the FICA taxes previously imposed on the unpaid benefit amounts. IRS Chief Counsel Advice Memorandum, No. 200823001 (June 6, 2008).
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