Two bases from time of pitch for all runners, including batter-runner
Correct. All associations treat it this way.
And just because it's slowpitch softball and somebody has to argue or get technical, I'll start.
As for mechanics on it, it doesn't matter what/when the fielder indicates, it's going to be on the umpire. The old "throw your hands up and we'll call time" thing is not in the rulebook. They can throw their hands up all they want, but play doesn't stop until the umpire calls a dead ball. I was always instructed to keep it live until you can get out and determine that the ball is really out of play and put people back. Working solo makes the PU have to run out 300 or so feet to see that yes, the ball is indeed stuck under the fence, or "no, the ball is in play, you're just trying to get one over on me".
In practice, you'll find many (if not most) umpires take the word of the fielder that the ball went out of play and just award the bases appropriately.