Timestamp Shifts when calling to_timestamp(extract (epoch from timestamp))

In postgresql 9.3 I am running into what I consider counterintuitive behavior when I convert something to a Unix epoch, then back from a timestamp without timezone.  Calling "to_timestamp(extract (epoch from timestamp))" returns a time that is shifted the distance from local time to GMT (Example 1).  I have a workaround for when I do data imports, in that if I create columns as "timestamp with timezone" and do the same conversion, they convert to and fro seemelessly (example 2).