The Regeneration is when Christ who was dead for the sins of those He represented, was revived from that state of the dead still in representation of those he was dead in behalf of, and when He revived and entered into His Glory, they too, revived with Him and entered into His Glory. His Glory is theirs. Jn 17:22
And the glory which thou gavest me I have given them; that they may be one, even as we are one:
Regeneration is from Two word origins, the first Palin which means:
anew, again
renewal or repetition of the action
b) again, anew
And the word genesis which means:
source, origin
a) a book of one's lineage, i.e. in which his ancestry or progeny are enumerated
2) used of birth, nativity
3) of that which follows origin, viz. existence, life
So it means in some respects back to life or back into existence, or begotten again.
For Christ's Resurrection is described as a being begotten as here Rev 1:5
And from Jesus Christ, who is the faithful witness, and the first begotten of the dead, and the prince of the kings of the earth. Unto him that loved us, and washed us from our sins in his own blood,
Col 1:18
18 And he is the head of the body, the church: who is the beginning, the firstborn from the dead; that in all things he might have the preeminence.
Or Acts 13:33
God hath fulfilled the same unto us their children, in that he hath raised up Jesus again; as it is also written in the second psalm, Thou art my Son, this day have I begotten thee.
So His Resurrection Glory is the Regeneration, and all for whom He died are Represented with Him in His Regeneration from the Dead unto His Throne of Glory !
So Jesus says Matt 19:28
28 And Jesus said unto them, Verily I say unto you, That ye which have followed me, in the regeneration when the Son of man shall sit in the throne of his glory, ye also shall sit upon twelve thrones, judging the twelve tribes of Israel.
All the Elect of God were regenerated, made alive again with Christ when God regenerated Him from the dead Eph 2:6
6 And hath raised us up together, and made us sit together in heavenly places in Christ Jesus:
The us here of Eph 2:6 are the ones who followed Him in the Regeneration of Matt 19:28
28 And Jesus said unto them, Verily I say unto you, That ye which have followed me, in the regeneration when the Son of man shall sit in the throne of his glory, ye also shall sit upon twelve
For remember, the punctuation is not inspired, so lets read this verse with the comma placed after the word regeneration:
28 And Jesus said unto them, Verily I say unto you, That ye which have followed[accompanied] me in the regeneration, when the Son of man shall sit in the throne of his glory, ye also shall sit upon twelve thrones, judging the twelve tribes of Israel.
The Twelve Tribes of Israel are not Twelve Literal Physical Tribes of ethnic jews, but that was merely a type, the anti type is the whole Election of Grace whom Christ represented as the Great High priest of God's People the Church when He offered Himself as an sin offering on their Behalf, unto God's Law and Justice ! Thats the Twelve Tribes of Israel, the Church or Body of Christ !