"You can redistribute this work (and derivatives) under the terms of the GPL, version 2 or later", then you are saying:
A. you can redistribute this work (and derivatives) under the terms of the GPLv2
B. OR you can redistribute this work (and derivatives) under the terms of the GPLv3
C. OR you can redistribute this work (and derivatives) under the terms of the GPLv3.1
and so on.
If you need to redistribute some work that is a derivative of both a GPLv2 work (terms under letter A, above) and a GPLv2+ work (A|B|C|...), you still have the option of distributing it under the terms of A. Likewise, if you need to redistribute some work that is a derivative of both a GPLv3+ work and a GPLv2+ work (B|C|... and A|B|C|... respectively) then you still have the option of distributing it under the terms of B|C|... etc etc.