What is the rules concerning withdrawing contributions from a Roth IRA with no taxes to be paid?

We can't provide financial advice, however, speak to the Manager at your bank to see how you can accumulate the best possible interest. Here is a site for the IRA:

http://www.moneychimp.com/articles/rothira/rothintro.htm

Thank you for your reply however, I have already retired and want to transfer my IRA to another bank. My question is, can I move it to a Roth IRA or can a Roth IRA just be used when a person is still working>

No, you can convert a traditional IRA into a Roth IRA as long as your Single MAGI is less than $110,000 or joint MAGI is less than $220,000. It doesn't matter if you are retired or still working. It will be a taxable event but with the US likely moving into a rising tax environment it makes sense to take advantage of lower taxes now. In 2010 the government will get rid of the income requirement and anyone will be able to convert their trad. IRA's into Roth's. keep in mind that when you are taxed on the conversion you can choose to pay the taxes over a 2 year time period (half now, half later)

To reduce the tax in any given year, you can roll over into a Roth IRA a bit at a time. When you take the money out of the traditional IRA, that money is considered income and is taxed. Rolling it into the Roth means that there will be no further tax, and no required minimum distribution either.