I noticed that the /System/Library/StartupItems/CiscoVPN directory got removed after installing SL. I simply restored it from the time capsule then ran sudo /System/Library/StartupItems/CiscoVPN start . After that I was able to use my CiscoVPN client and did not lose any of my connection entries.
That's precisely why I had to reinstall as well - the directory was deleted after installing SL.